Reliance AGM 2023 Today; Here's What To Expect
The Reliance Annual General Meeting (AGM) for 2023 is scheduled for Monday, 28 August. This event marks the 46th AGM of Reliance Industries (RIL) and is anticipated to reveal the company's strategic plan for the future.
As the conglomerate, led by Chairman Mukesh Ambani, prepares for its 46th AGM, investors have eagerly awaited news about the timeline for the initial public offering (IPO) of Reliance Jio. However, several brokerages have previously indicated that the IPO might not take place this year.
Market experts have indicated that after the separation of Jio Financial Services (JFSL) from RIL, there are expectations for significant announcements regarding the IPOs of Future Retail and Reliance Jio. Additionally, there's anticipation for the introduction of reasonably priced 5G devices and updates on company succession plans in this area.
Furthermore, insights into the fundamentals of Jio Financial Services are also expected to be revealed during the Reliance AGM 2023.
Here are some expectations for the Reliance AGM 2023:
1. The Ambani family may provide updates on the rollout of Jio’s 5G network and prepaid plans. Recently, Jio introduced the Jio Bharat device priced at Rs 999, aiming to offer affordable access to its advanced 4G network for customers still using 2G technology.
2. Reports suggest that there might be announcements about the launch dates of Jio AirFiber and Jiobook laptops.
3. Plans for expanding Jio Financial Services are likely to be discussed.
4. The market is hopeful for announcements concerning the IPO of Future Retail. In the 2019 AGM, RIL had announced its intention to list its telecom and retail businesses within the next five years.
5. Updates on partnerships with Netflix related to prepaid bundled packs are also anticipated.
6. There could also be announcements from Reliance New Energy regarding investments in clean energy.
Takeaways from the Reliance AGM 2022:
1. Mukesh Ambani announced the launch of 5G standalone services in India, with plans to introduce them in select metro cities by Diwali.
2. Akash Ambani, Chairman of Reliance Jio, introduced JioAirfiber, a wi-fi hotspot providing fibre-like speeds for home and office use.
3. Mukesh Ambani revealed plans for a Rs 75,000 crore investment in petrochemicals and the textile business.
4. Reliance Jio partnered with Qualcomm to develop 5G solutions tailored for India, as announced by Mukesh Ambani.
