AUGUST 28, 2023
Reliance Industries chairman and managing director Mukesh Ambani.
Reliance AGM 2023 or annual general meeting will be held on Monday, August 28. Reliance Industries Ltd’s (RIL) 46th AGM is expected to unveil its business blueprint for the future.
While chairman Mukesh Ambani-led conglomerate is set for its 46th AGM, investors have been eagerly waiting for announcements on the timeline of the initial public offering (IPO) of Reliance Jio, which many brokerages have previously said may not happen this year.
According to market experts after the demerger of Jio Financial Services Ltd (JFSL) from RIL, the market is expecting some concrete announcements in regard to Future Retail IPO and Reliance Jio IPO, Live Mint reported. They said the launch of 5G devices at a reasonable price and some succession from the company in this regard is also expected.
Apart from this, some information in regard to the fundamentals of Jio Financial Services Ltd is also expected at the Reliance AGM 2023.
Reliance AGM 2023: Here are some of expectations
1. The Ambanis might give updates on RIL 5G rollout and prepaid plans. In July, Reliance Jio launched the Jio Bharat device for ₹999. The phone aims to provide affordable access to the best-in-class Jio 4G network for customers still using 2G technology.
2. Reports claimed that the company is likely to launch date of Jio AirFiber and Jiobook laptops.
3. Expansion plans of Jio Financial Services.
4. The market is hoping for announcements related to Future Retail IPO. At the 2019 AGM, the RIL had announced that it would list its telecom and retail business in the next five years.
5. RIL is expected to give some updates on partnerships with Netflix on prepaid bundled packs.
6. Reports also claimed that Reliance New Energy may announce any update on investment in clean energy.
Reliance AGM 2022: Takeaways
1. Mukesh Ambani announced the 5G standalone services in India. Ambani said the 5G services will be rolled out in select metro cities by Diwali.
2. Akash Ambani, chairman of Reliance Jio, announced the launch of JioAirfiber, a wifi hotspot that will allow consumers to access fiber-like speeds at homes and offices.
3. Reliance would invest ₹75,000 crore in petrochemicals, textile business, said Mukesh Ambani.
4. Reliance Jio partnered with Qualcomm to develop 5G solutions for India, Mukesh Ambani said.
Hindustan Times / PTI
