Reliance Industries Limited (RIL) will be holding its most-anticipated Annual General Meeting (AGM) on 24 June, where, as it goes, Chairman Mukesh Ambani is expected to announce major developments and deals by the oil-to-retail-to-telecom conglomerate.
Market experts expect updates around the company’s first 5G phone and next-generation wireless plans, JioMart’s grocery venture with Facebook’s WhatsApp, announcements on JioBook, a low-cost affordable laptop, and also its $15-billion deal with Saudi Aramco deal in its newly carved oil-to-chemical (O2C) unit.
When are where to watch RIL AGM:
RIL AGM is set to take place on 24 June, 2021 at 2:00 pm IST. Like last year, this year’s AGM will also be held virtually due to the ongoing Covid-19 pandemic.
This year’s meeting will again be live-streamed on JioMeet for shareholders, with the link opening up half an hour before the call. To access, click on OTHERS, enter your full name and organisation, and CAPTCHA CODE that will appear on your screen, to join the AGM.
It will also be available in RTMP direct receive. Link: rtmp://rtmpfeed.jio.ril.com:1935/RIL_AGM_2021_General/stream1
You can also watch the AGM live on Jio’s YouTube channel.
One can also get all the real-time updates of the RIL AGM on company’s Flame of Truth Twitter handle and official Facebook channel. Simultaneously, it will also be available on Reliance Jio Faebook page and Twitter handle.
Like last year, RIL Again introduced a Chatbot Assistant on WhatsApp ahead of the AGM. The WhatsApp Chatbot Assistant is designed to help shareholders with the onboarding process and also help with general FAQs, guidance for the Virtual AGM, voting on resolutions, Dividend and Taxation details as well as for sharing important links and documents. Users will also be able to access FAQ videos via the WhatsApp Chatbot Assistant.
In order to access the meet, one needs to send a “Hi” from their WhatsApp number to the ChatBot WhatsApp number +91 79771 11111 or click https://bit.ly/rilagmchatbot . The ChatBot will act as a help desk to answer queries related to RIL AGM.
“RIL’s Annual General Meeting (AGM) has historically been a keenly watched event (previously attended by 3,000 shareholders when held in physical format and last year saw 300,000 concurrent viewers of the virtual AGM across 42 countries and 468 cities) given that it has been one of the top 3 companies by market capitalisation in India, has a large free float and a large public shareholding (more than 3 million non-institutional shareholders),” brokerage HSBC Global Research said in a report. And expectations are already built up for the AGM.
What to expect at RIL AGM:
The Jio Phone 5G:
Consumers are anticipating Reliance Jio’s roadmap for 5G rollout in India, and the other pertaining to the extremely affordable Jio Phone 5G in the AGM.
The latest entrant under the Jio Phone line-up is slated to be an Android-sporting low-cost 5G device that is cheap enough to bring millions of 2G feature phone users over to the next-generation telecom technology. The specifications are likely to reflect the modest price tag.
Reliance Jio has partnered with Google to develop the software for its upcoming 5G smartphone. It is going to be a barebone avatar of the Android OS that can be run easily on the low-end device. The Mountain View tech giant had bought 7.7 per cent stake in the Indian telecom firm for ₹33,737 crore last year. The partnership involved developing an affordable 5G smartphone.
Saudi Aramco’s chairman on Reliance’s board?
As per a PTI report, Saudi Aramco chairman and Governor of the Kingdom’s wealth fund Public Investment Fund, Yasir Al-Rumayyan, may be inducted on the board of Reliance Industries Ltd, a precursor to a $15 billion deal, reports said. An announcement of Al-Rumayyan’s induction on the RIL board or the board of the newly carved oil-to-chemical (O2C) unit may come as early as at the company’s annual shareholder meeting on June 24.
The deal was to conclude by March 2020 but has been delayed for reasons not disclosed by either company. Talks have revived this year and the two are reportedly discussing a cash and share deal – Aramco paying for the stake with its shares initially and then staggered cash payments over several years.
In the previous AGM, RIL had announced plans to sell a 20% stake to Aramco in the O2C business at an enterprise value of $75 billion.
So far in 2021, RIL stock has already rallied 12.1% and in the last 12 months, it has witnessed a jump of 34.4%.
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