BENGALURU, Aug 29 Reuters Reliance Industries will consider a bonus share issue for shareholders at a board meeting on Sept. 5, it said on Thursday.

The announcement of the bonus issue at a 11 ratio was made minutes before the company39;s annual general meeting, where Chairman Mukesh Ambani is set to address shareholders.

The bonus issue will be the first since 2017, when the oiltochemicals conglomerate issued bonus shares at a 11 ratio.

The company39;s share price rose as much as 2.5 to 3,072.6 rupees 36.63 after Thursday39;s announcement.

1 83.8800 Indian rupees

Reporting by Indranil Sarkar and Varun Hebbalalu in Bengaluru Editing by Jason Neely and David Goodman

Source Reuters