Explorer

Reliance 46th AGM Today: From IPO Date To 5G Road Map, Here's What To Expect, Where To Watch

Reliance AGM 2023 is likely to announce some updates on its on telco and retail business IPO timelines, 5G rollout, detailed road map on JioAir Fiber, and clean energy investment

Reliance Industries (RIL) is all set for the much-awaited annual general meeting (AGM) on Monday. Mukesh Ambani, chairman of the oil-to-telecom conglomerate, is expected to come up with some big announcements. This will be Reliance's 46th AGM. According to news reports, Reliance AGM is likely to announce some updates on its on telco and retail business IPO timelines, 5G rollout, detailed road map on JioAir Fiber, and clean energy investment.

The Mukesh Ambani-led group is likely to come up with some major announcements during its 46th AGM. The meeting can be watched live here at 2 pm.

The company had informed the stock exchanges about the 46th AGM date citing, "This is to inform that the Forty-sixth Annual General Meeting (Post-lPO) ("AGM") of the Members of the Company will be held on Monday, August 28, 2023 at 2:00 p.m. (IST) through Video Conferencing ("VC") / Other Audio-Visual Means ("OAVM"), in accordance with the applicable circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India."

Reliance investors are also eagerly waiting for value to be unlocked in the telecom and retail divisions. Chairman Mukesh Ambani, while responding to shareholders in the previous AGM, had said that he would update them on Jio and Retail IPOs during the next AGM.

RIL on July 21 had reported an 11 per cent drop in consolidated net profit for the first quarter (Q1) ended June 30. The conglomerate clocked a consolidated net profit of Rs 16,011 crore in Q1 of FY24 down from Rs 17,955 crore reported in the same period last year. It had said the decline in profit was mainly because of "higher finance cost and increased depreciation."

This week, Mukesh Ambani-owned firm said that Qatar Investment Authority (QIA) will be investing Rs 8,278 crore in the company’s retail arm, Reliance Retail Ventures Limited (RRVL). The investment will give QIA ownership of 0.99 per cent in Reliance Retail on a fully-diluted basis. Reliance Retail, along with its subsidiaries and associates, supervises the largest retail business in the country with more than 18,500 stores spread across the nation.

Meanwhile, Reliance Retail Ventures Ltd is also planning to raise Rs 3,048 crore for an infrastructure investment trust (InvIT), according to the draft document filed by the firm with the SEBI. The company stated that it is planning to capitalise on its warehousing and logistics assets through private placement.

Stock of Reliance is trading at Rs 2,476.15 apiece, down 0.10 per cent, at 11 am on Friday, while Jio Financial stock hits 5 per cent lower circuit on the BSE for the fifth consecutive day post listing.

ALSO READ | Stock Market: Sensex Declines 200 Points, Nifty Below 19,350 On Weak Cues. Bank, Metals Top Drags

View More
Advertisement
IOI
Don't Miss Out
79
Hours
05
Minutes
42
Seconds
Advertisement
Tue Feb 18, 2:24 am
connaught place
14.1°
Precipitation: 0 mm    Humidity: 78%   Wind: N 6.4 km/h
See Today's Weather
Powered By:
Accu Weather
Advertisement

Top Headlines

Delta Air Lines Plane Crashes In Toronto's Pearson Airport, 18 Passengers Critically Injured: VIDEO
VIDEO: Delta Airlines Plane Crashes In Toronto, Several Critically Injured
Panic At Pearson: Delta Plane Overturns On Landing – Air Traffic Control Audio Reveals Chaos
Panic At Pearson: Delta Plane Overturns On Landing – Air Traffic Control Audio Reveals Chaos
Gyanesh Kumar Appointed As Chief Election Commissioner: Law Ministry
Gyanesh Kumar Appointed As New Chief Election Commissioner
'Russia Must End Aggression With Guarantees For Ukrainians': French President Macron
'Russia Must End Aggression With Guarantees For Ukrainians': French President Macron
Advertisement
ABP Premium

Videos

India's Got Latent Row: Samay Raina, Apoorva Mukhija to Appear Before NCWNew Delhi Stampede: Railway Takes Major Step After Stampede at StationDelhi Breaking: Railway Takes Action After Stampede, Platform Ticket Sales Halted at New Delhi StationPrayagraj Breaking: Rising Crowd Forces Railway to Shut Sangam Station Until Further Notice

Photo Gallery

Embed widget

We use cookies to improve your experience, analyze traffic, and personalize content. By clicking "Allow All Cookies", you agree to our use of cookies.