Mukesh Ambani-helmed Reliance Industries will hold its 46th annual general meeting (AGM) on August 28. It is obvious that shareholders will keenly follow Ambani’s announcements after the stock market debut of Jio Financial Services (JFS), the demerged financial business of Reliance Industries. Moreover, many devices are expected to be rolled out by Jio. In the pipeline are the initial public offerings of Reliance Retail and Reliance Jio, and Ambani is expected to shed a little light on the timeline.
Reliance Industries AGM 2023: Here’s what to expect
The market is keen to know if Reliance would list its telecom and retail business. In his AGM speech last year Mukesh Ambani had said that he would give an update on the IPOs of Reliance Retail and Reliance Jio this year. “I will take up your inputs with our board of directors on the question on IPO for Jio and Retail. The principles on timing and valuation of IPOs remain unchanged. I have outlined the plans for both businesses. Jio is embarking on an aggressive launch of our 5g service and retail is on a path of exponential growth. I will update you on the IPO in my speech next year,” he had stated.
Reliance Jio’s 5G plans will also be closely followed. It is likely to announce new Jio 5G plans for different cities across the country. It has been using the existing 4G plans to provide 5G services and is expected to announce its complete rollout of 5G services at the AGM.
JioPhone 5G 2023 is also expected to be unveiled today at the event. Reliance had launched its first 4G phone in India last year. The JioPhone 5G smartphone could possibly be rolled out for under Rs 10,000 and offer 4G RAM, dual rear camera setup including a 13MP primary sensor and a 2MP secondary sensor, along with a 5MP front facing camera.
Mukesh Ambani-helmed Reliance announced the 5G hotspot device AirFiber 5G at last year’s AGM. The price and availability of AirFiber 5G could be announced today.
Reliance AGM 2023 could also witness announcements regarding investments in Reliance New Energy, its clean energy unit.
Jio Financial Services’ expansion plans could also be revealed at the Reliance AGM 2023.
Reliance Retail’s Executive Director Isha Ambani is also expected to make announcements on the company’s expansion plans and further acquisitions.
Reliance Industries AGM 2023: Where to watch
Mukesh Ambani-led Reliance Industries’ AGM will kickstart at 2 pm. It will live-streamed on the company’s website, social media handles, and its YouTube channel.
Also read: RIL shares: What analysts say ahead of Reliance Industries AGM on August 28; stock price targets & more
Also read: Reliance AGM 2023: From 5G plans to JioPhone 5G and AirFiber, here’s what we may see at the event
