Reliance Offers Free Shares, Cheap Phone at Shareholder Meet
- Company offers 1 free share to investors for every one held
- “Bonus shares reflect my confidence in the company”: Ambani
A man looks at his mobile phone as he walks past a Reliance Communications Ltd. mobile store in the Nehru Place business center in New Delhi.
Photographer: Prashanth Vishwanathan/BloombergThis article is for subscribers only.
Reliance Industries Ltd., India’s most valuable company, will give investors one free share for each held for the first time in eight years.
“This will be the largest bonus issue by any company in India so far,” Chairman Mukesh Ambani told shareholders Friday, adding to an earlier announcement on offering an “effectively zero price” feature phone to boost the company’s telecommunications business. “Bonus shares reflect my confidence in the company.”