Mumbai: Reliance Industries shareholders will get bonus shares in a ratio of 1:1 share, this was announced by RIL chairman Mukesh Ambani during the annual general meeting held on Wednesday.
"RIL Board will consider and recommend issuance of bonus shares in the ratio of 1:1 on September 5, 2024," the company informed stock exchanges There have been five bonus issues, all in 1:! ratio so far by the company for the shareholders.
RIL chairman also updated on the progress made so far in the new energy business.
"The company was on track to fully commit and invest up to Rs 75,000 crore to establish the manufacturing ecosystem for the new energy business," said Ambani while addressing shareholders at the annual general meeting.
“Jamnagar is the Energy Capital of the World. By 2025, Jamnagar will also become the cradle of our New Energy business. The Dhirubhai Ambani Green Energy Giga Manufacturing Complex will be the world's largest, most modern, modular, and integrated ecosystem at a single location,” said Ambani.
“We are on track to fully commit and invest up to Rs 75,000 crore to establish this manufacturing ecosystem, extensively enabled by all emerging technologies including AI, IoT, Machine Learning, and Robotics. Our complete ownership and automation of the integrated value chains will allow us to maximise margins that are higher than those of stand-alone, non-integrated players,” RIL chairman said.
"New energy business has potential to become as big and profitable as O2C(oil to chemical) in 5-7 years," he added.
Production of solar PV modules will commence by the end of this year. RIL's target is to achieve first phase of integrated solar production facilities in the following quarters which will include modules, cells, glass, wafer, ingot, and polysilicon, with an initial annual capacity of 10 GW( 1 giga watt is 1 billion watt of electric power)
RIL is also developing first-generation bifacial solar panels using indigenized HJT technology with 26 per cent cell efficiency.
The company is also building a robust energy storage solution to deliver round-the-clock power. advanced battery manufacturing facility with a 30 GWh annual capacity will commence by second half of 2H next year(2025).
The company is also building a fully automated, multi-GW electrolyser facility to be ready by 2026.
Green energy and world-class electrolyser will enable production of green hydrogen and green molecules, the company said.
The company is also rapidly scaling up investments in bioenergy to reach 55 Compressed Biogas (CBG) plants by 2025, RIL said.
RIL shares gained 1.51 per cent on BSE to close at Rs 3040.85 gaining 1.51 per cent after hitting day's high of Rs 3074.80.
