Mukesh Ambani surprises RIL shareholders with 1-for-1 bonus share

Done after 8 years; CMD also promises more growth than what's been achieved in past 40 years

Oil to telecom conglomerate Reliance Industries (RIL) announced a bonus share issue, a demand shareholders have been making repeatedly at annual general meetings (AGMs).

"I had committed last year that we would reward shareholders at the completion of our investments," Mukesh Ambani, chairman and managing director, said as he announced the board's recommendation for one bonus share for every one held by shareholders, at the 40th AGM in Mumbai on Friday.

Investments made in recent years, he added, would begin generating revenue in the coming months.

Ambani also shared a road map of RIL's growth targets for the next decade. "Reliance@50 will aspire