Reliance Industries (RIL) has set the record date for its 1:1 bonus share issue. Post-issue, RIL's authorized share capital will rise to Rs 50,000 crore. Shareholders will see their shares double, enhancing stock liquidity without changing the total investment value.

Earlier, Mukesh Ambani-backed Reliance has extended the deadline for investors holding partly paid-up equity shares to convert them into fully paid-up shares.

To qualify for the bonus shares, investors must purchase Reliance Industries shares at least one day before the record date.

RIL board approved the bonus issue in the ratio 1:1 on Thursday, September 5, which was announced during the oil-to-telecom conglomerate's 47th annual general meeting (AGM) late in August. The board also approved an increase in authorised share capital from ₹ 15,000 crore to ₹ 50,000 crore.

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Calling it an "early Diwali gift", RIL approved a 1:1 bonus share issue in September. This will be the sixth bonus issuance of the oil-to-telecom major after 1980, 1983, 1997, 2009 and 2017.

Reliance Industries announced plans to distribute one additional share for every share held by shareholders during its AGM. However, the record date is yet to be announced.

The issue of bonus shares was approved by majority of the shareholders of Reliance Industries through an e-voting process on Wednesday, October 16.

Reliance Industries, RIL Bonus Share Credit Date: "​​The issuance and listing of bonus shares will coincide with the upcoming festive season in India and will be an early Diwali Gift to all our esteemed shareholders,