RIL’s 46th AGM can be watched live on:
* Facebook: https://www.facebook.com/RelianceIndustriesLimited
* YouTube: https://www.youtube.com/@RelianceUpdates
* Instagram: https://www.instagram.com/relianceupdates/
Reliance Industries is expected to make a slew of announcements at the AGM. These include likely launch date of JioFiber, the company’s fixed wireless access device. Reliance announced the same at last year’s AGM. Shareholders can also expect updates on 5G rollout from the company. Reliance Jio recently claimed that it has crossed 2,000 centers in 5G rollout and that it aims to complete the rollout across the country by December 2023.
There are also likely to be big announcements related to Reliance Retail and Reliance Energy. Recently, the company announced that Qatar Investment Authority (QIA), through a wholly-owned subsidiary, will invest Rs 8,278 crore into Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited. This investment values RRVL at a pre-money equity value of Rs 8.278 lakh crore.
RRVL, through its subsidiaries and associates, operates a retail business that claims to serve 267 million customers with an integrated omni-channel network of over 18,500 stores and digital commerce platforms across grocery, consumer electronics, fashion & lifestyle, and pharma consumption baskets.
QIA’s investment will translate into a minority equity stake of 0.99% in RRVL on a fully-diluted basis. The previous fund-raise round by RRVL in 2020 from various global investors of an aggregate amount of Rs 47,265 crore was done at a pre-money equity value of Rs 4.21 lakh crore.