Reliance Industries Limited – India’s most valuable company will hold it’s 43rd Annual General Meeting (AGM) today starting from 2:00 pm IST. For the first time, Reliance will be holding the event virtually because of the on-going Covid-19 pandemic. It is expected that thousands of shareholders are about to login from 500 different locations.
It is expected that the virtual platform is capable of joining more than 1 lakh shareholders across the world. RIL recently became the first company to cross 12 million market capitalization. Reliance had managed to sell its stakes in Jio Platforms for millions of dollars amid the coronavirus-pandemic lockdown. In the past three months, Jio has raised more than 1.12 lakh crores by selling the shares and 53,000 crores from the biggest-ever rights issue in India.
Shareholders are expecting many things from Mukesh Ambani as he had accomplished all the targets set in the AGM held last year. The target was to become a net debt-free before March 31, 2021, which is completed with more 9 months left before the deadline.
What can Shareholders expect from Reliance today?
Jio Platforms Revenue scales up.
As the company has already raised over Rs 1 lakh crore from Jio Platforms by selling 25.24% stake to investors at nearly Rs 5 lakh crore value, Investors are expecting the company to focus on generating significant revenue from all its 10 subsidiaries. Worth mentioning here is that RIL has consolidated all its digital assets under Jio Platforms. As Mukesh Ambani has promised to list Jio in the next five years, the company will focus to increase its revenue from the digital assets over the next five years. RIL’s prominent business id its telecom arm which is expected by Ambani to show a path towards a significant revenue growth for Jio Platforms.
Consumer and Retail Business.
Reliance will be looking forward to increasing its retails business revenue by 50%. Mukesh Ambani will be focused on the company’s tie-up with Facebook backed messaging platform WhatsApp to leverage its Jio Mart services on WhatsApp. Jio Mart is the e-commerce platform launched a few months ago. Investors will be keen to know how Jio Mart will integrate with WhatsApp and with the local stores and online payments via WhatsApp. Whatsapp has launched its payment services in Brazil and yet to get a license in India.
Reliance had announced Jio Fibre in the year’s AGM and started its operation from September 2019. With a set target to reach millions of businesses. Jio Fibre has a very less adoption rate will less than a million as of February 2020. Ambani will be looking forward to announcing home broadband services which are to have a huge adoption rate among the users.
In the last AGM, RIL has started the process to demerge its oil and petrochemical business into Reliance O2C (oil-to-chemicals) as it had signed an agreement with Saudi Aramco to sell up to 20% in its refining and chemical business at an enterprise value of $75 billion. Investors will be keen to have an update on this.
RIL is in talks with companies to sell a stake of Jio Optical Fibre trust.
it has already sols it’s towers assets to Canada’s Brookfield Infrastructure Partners LP, British Columbia Investment Management and GIC Investors.
Report: Google is in talks to invest $4 billion is Jio Platforms.
How to watch and where to watch?
The event is being broadcasted via the company’s Flame of Truth and Jio channels on YouTube. In addition to that, it will also be streamed via the company’s Flame of Truth and Jio Facebook handles and Twitter handles. Additionally, individuals will also be able to access the link to the live-stream via the company’s JioMeet link. People can get updates regarding the event using a WhatsApp chatbot that can be accessed by sending a ‘Hi’ on the number +91-79771-11111.
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