Step 1: Moment of inertia of the rod.
For a uniform rod of length \(L\) and mass \(m\), about an axis through its centre and perpendicular to its length,
\[
I_1 = \frac{1}{12} mL^2
\]
Step 2: Converting the rod into a ring.
When the rod is bent into a ring, its circumference equals the length of the rod:
\[
2\pi R = L \Rightarrow R = \frac{L}{2\pi}
\]
Step 3: Moment of inertia of the ring.
Moment of inertia of a ring about its diameter is:
\[
I_2 = \frac{1}{2} mR^2
\]
Step 4: Substituting value of \(R\).
\[
I_2 = \frac{1}{2} m \left(\frac{L}{2\pi}\right)^2
= \frac{mL^2}{8\pi^2}
\]
Step 5: Taking the ratio.
\[
\frac{I_2}{I_1} = \frac{\frac{mL^2}{8\pi^2}}{\frac{1}{12}mL^2}
= \frac{12}{8\pi^2}
= \frac{3}{2\pi^2}
\]
Step 6: Conclusion.
\[
\boxed{\dfrac{I_2}{I_1} = \dfrac{3}{2\pi^2}}
\]