Old Reliance Industries Shares: What They Are Worth and How to Recover Them
Reviewed 16 September 2026
Do you still own Reliance Industries shares?
Old Reliance Industries certificates still represent Reliance shares, but the holding has probably grown. RIL issued 1:1 bonus shares in 2017 and again in 2024, and in 2023 shareholders received one Jio Financial Services share for each RIL share. Reliance's registrar is KFin Technologies (KFintech). Physical shares have to be dematerialised before they can be sold, and unclaimed shares or dividends may have been transferred to IEPF.
How many Reliance Industries shares do you own today?
- 2017Bonus issue, 1:1One bonus share for every share held. Record date 9 September 2017.
- 2023Jio Financial Services demergerOne Jio Financial Services share for every RIL share. Record date 20 July 2023.
- 2024Bonus issue, 1:1One bonus share for every share held. Record date 28 October 2024. RIL told shareholders that bonus shares on physical holdings would be credited once the holding is dematerialised.
Worked example. Taking only the actions above: 100 RIL shares held before September 2017 became 200 after the 2017 bonus, earned 200 Jio Financial Services shares in 2023, and became 400 RIL shares after the 2024 bonus.
Reliance had other bonus issues and corporate actions before 2017, including the demerger of 2006. We haven't listed them here because we haven't checked them against company records. KFintech can confirm the full entitlement on a folio.
Quick reference: what to multiply your certificate by
Find the row for when the shares were bought. The multiplier is what each share on the certificate has become since, counting only the corporate actions we have verified.
| If bought | Each share is now | Plus |
|---|---|---|
| Before 9 September 2017 | 4 RIL shares | 2 Jio Financial Services shares |
| Between Sept 2017 and 20 July 2023 | 2 RIL shares | 1 Jio Financial Services share |
| Between July 2023 and 28 October 2024 | 2 RIL shares | — |
| After 28 October 2024 | 1 RIL share | — |
Counting only the three actions verified above. Reliance made earlier bonus issues and the 2006 demerger that we have not checked against company records, so a certificate from the 1990s is worth more than this table shows — possibly a great deal more. KFintech can confirm the exact entitlement on a folio.
What to check on an old Reliance certificate before you do anything
Five things on the certificate decide how quickly this moves. Photograph them before the paper goes anywhere.
- The company name. "Reliance Industries Limited" is the one you want. Certificates naming Reliance Communications, Reliance Capital, Reliance Infrastructure or Reliance Power are the separate companies created in the 2006 demerger, and each has its own registrar and its own claim.
- The folio number. This is what the registrar searches on, and it is the single most useful thing you can quote in a letter.
- Certificate and distinctive numbers. Needed for duplicates, for the special window, and to prove which shares the certificate covers.
- The holder names, in order. Joint holdings are transmitted to the survivor on a death certificate alone, which is far simpler than a legal heir claim.
- The registered address. If the family has moved since, the folio almost certainly stopped receiving dividends, which is the usual route into the IEPF.
If you held Reliance on paper, where did the Jio Financial shares go?
Every shareholder on the register on 20 July 2023 was entitled to one Jio Financial Services share for each Reliance share. Demat holders received them automatically. Physical holders frequently did not, because there was no demat account to credit.
Those entitlements are generally held for the shareholder until claimed rather than lost. Ask KFintech where the JFS entitlement on your folio sits and what it needs to be released — in most cases, a demat account and a folio whose KYC is complete.
Who is Reliance Industries’s registrar, and how do you contact them?
KFin Technologies Limited (KFintech)
- Email for RIL shareholders
- rilinvestor@kfintech.com
- Address
- Selenium Tower-B, Plot No. 31 & 32, Financial District, Nanakramguda, Serilingampally Mandal, Hyderabad 500032
- Toll-free
- 1800 309 4001
- Online requests
- ris.kfintech.com/clientservices/isc/
Registrars change. Confirm the current one on the company’s investor page before posting anything, and see how to find a company’s registrar.
How do you recover or sell old Reliance Industries shares?
- The shares are in your name and you have the certificates
Update KYC on the folio if needed, then dematerialise them so they can be sold.
- The shareholder has died
The nominee, surviving joint holder or legal heirs claim through transmission.
- You bought the shares on paper before April 2019
SEBI's special window, open until 4 February 2027, lets you complete the transfer.
- The certificates are lost or damaged
The registered holder or heirs apply for duplicates, credited to demat.
- The shares or dividends were transferred to IEPF
Claim them back from the IEPF Authority with Form IEPF-5.
- The certificate is in an old or merged company name
The holding may now sit with a renamed or successor company.
Questions we are asked about Reliance Industries shares
How many Reliance shares do I own today if I bought before 2017?
Four RIL shares for every share on the certificate, from the 1:1 bonuses of 2017 and 2024, plus two Jio Financial Services shares from the 2023 demerger. If the holding predates 2006 it will be larger still, because of earlier actions we have not verified.
What is my old Reliance certificate worth?
Multiply the shares on the certificate using the table above, then by the current market price, and add any unpaid dividends. We do that calculation free of charge, including checking whether the holding has moved to the IEPF.
Are old Reliance share certificates still valid?
Yes, as evidence of the holding, provided the shares haven't been transferred to IEPF or replaced by duplicates. They can't be sold on the exchange in paper form, so the shares need to be dematerialised first.
Who is Reliance Industries' registrar?
KFin Technologies (KFintech). RIL's shareholder correspondence gives rilinvestor@kfintech.com as the contact email.
Did old physical Reliance shareholders get Jio Financial Services shares?
Shareholders on the register on the record date, 20 July 2023, were entitled to one Jio Financial Services share per RIL share. For a physical folio, ask KFintech where that entitlement is held and what it needs to be credited to you.
My parent held Reliance shares and has died. What do we do?
The nominee or legal heirs claim through transmission. Under SEBI's July 2026 framework, holdings up to ₹10 lakh (physical) need only an indemnity bond and an affidavit-cum-NOC from the other heirs; the shares are credited to the claimant's demat account.
Sources
Free valuation of old shares
Send us the company name and folio number from the certificate. We work out what the holding is worth today, after bonuses, splits and mergers.