Reliance is selling a 20% stake in its oil-to-chemical business to Saudi Aramco, Mukesh Ambani announced at company AGM
Ambani also reveals details of launch date, pricing plans of Jio Fiber broadband service, Jio TV set-top box and landline
NEW DELHI :
At its 42nd annual general meeting (AGM), Reliance Industries Ltd (RIL) chairman and managing director Mukesh Ambani today announced that Saudi Aramco will buy a 20% stake in its oil-to-chemical business. Mukesh Ambani also announced details related to the launch of Jio Fiber service, the triple play of broadband, TV and landline.
Highlights of Mukesh Ambani's speech at Reliance AGM:-
-New commerce is a $700-billion business opportunity, said Mukesh Ambani.
-The purpose of 'new commerce' is to transform unorganised retail into organised retail.
-RIL's retail arm will soon unveil Reliance New Commerce, an initiative to digitally connect kirana stores across the country.
-Jio Fiber plans will come bundled with subscriptions to most leading premium OTT applications.
-The new Jio set-top box will accept broadcast cable TV signals from thousands of local cable operators who work with Hathway, DEN and GTPL.
-Jio Fiber users will get a landline phone connection for free.
-Reliance Jio has so far received over 15 million registrations from nearly 1,600 towns across India for its Jio Fiber broadband service.
-Jio's IoT service will be launched in the market on 1st January, 2020.
-Jio's Internet of Things (IoT) venture, pan-India 4G network called Narrowband Internet-of-Things or NBIoT, can deliver around ₹20,000 crore revenue for the company.
Watch: Reliance Industries unveils Jio GigaFiber starting at ₹700 per month
-More than 10 million customers are signing into Jio every month: Mukesh Ambani.
-Reliance Jio has invested ₹3.5 lakh crore towards creating a state-of-the-art digital infrastructure across India, with the largest optical fiber footprint.
-Reliance Jio's digital set-top box will have ultra high-definition entertainment, virtual reality content, multi-party video conferencing, voice-enabled virtual assistants, interactive gaming, home security and other smart-home solutions.
-Ambani promises more dividends and bonus issues to shareholders.
-We will move towards listing of Jio and Reliance Retail within the next five years: Mukesh Ambani.
-Mukesh Ambani reveals roadmap to becoming a zero net debt company in the next 18 months.
-Reliance has built a unique portfolio of world class and extremely valuable assets in world's fastest growing economy. Each of our best-in-class businesses is contributing to the transformation of #India, and creating enormous societal value: Mukesh Ambani at RIL AGM.
-Reliance has invested ₹5.4 trillion during the last five years to generate EBITDA in excess of US$ 1 billion annually for over a decade.
-Jio will provide unlimited ISD calling service from Jio landline at fixed monthly rental of ₹500 to US and Canada.
-Reliance’s new commerce platform represents the digital symbiosis of big and small enterprises. I believe that the small must not only survive, but also thrive in New India: Mukesh Ambani.
-Our merchant Point of Sale (POS) Solution – Jio Prime Partner POS – is integral to our plan to create an ecosystem around small merchants. This user-friendly digital platform will modernise even the smallest kirana shop to become a digitized store: Mukesh Ambani.
-E-commerce is a massive business opportunity. In the true Reliance ethos, we are working towards enriching and empowering nearly 30 million merchants and Kirana shop owners with our end-to-end digital and physical distribution stack: Mukesh Ambani
-Today, Reliance Retail is the only Indian retailer to be ranked in the Global 100 top retailers. Over the next 5 years, our aim is to be amongst the world’s top 20 retailers: Mukesh Ambani.
-Last year, Reliance Retail sold TV every 4 seconds, phone every 2 seconds.
-The retail business has grown phenomenally, registering a 7-fold increase in revenue and a 14-fold increase in profit in the last 6 years. Relentless focus on operating discipline has resulted in a 3-fold rise in per store productivity in last 5 years: Mukesh Ambani.
-We are at the end of the beginning of the Jio story: Mukesh Ambani.
-Reliance Jio will provide a bundle of connectivity and essential business productivity and automation tools to Indian small businesses for 1/10th the cost at ₹1,500 per month: Mukesh Ambani.
-Mukesh Ambani says Jio will provide connectivity and the Jio-Azure cloud service to Indian technology startups absolutely free.
-Jio to set up a network of large world-class datacenters across India powered by Microsoft’s Azure cloud platform.
-The Jio-Microsoft alliance will accelerate digital transformation with the launch of new cloud datacenters.
-Jio enters long-term alliance with Microsoft.
-Jio is s setting up a pan-India Edge Computing and Content Distribution network starting with tens of thousands of nodes: Ambani.
-Over the next 12 months, Reliance Jio will install one of the largest blockchain networks in the world in India, with tens of thousands of nodes operational on day one: Mukesh Ambani.
-Under a Welcome Offer, Jio Fiber customers opting for annual plan will get a new Jio Forever plan under which a full HD TV or a Home PC and 4k set-top box will be given for free: Ambani.
-Jio Fiber will launch a premium service where customers can watch movies at home on the same day they are released in theaters. This service will be launched in the middle of 2020: Mukesh Ambani.
-Voice calls from home will be absolutely free for ever for Jio Fiber subscribers.
-Jio Fiber's plans will be priced at ₹700- ₹10,000 per month.
-Jio Fiber's most basic plans will start at 100 Mbps and go upto 1 Gbps.
-This is the power of new India, the young India: Ambani.
-New mixed reality (MR) headsets, built by a startup that Jio has invested in, will be available in the market soon.
-Ambanis give a demo of MR headsets.
-The amount of fiber laid by Jio can encircle the earth 11 times.
-Jio set-top box supports gaming.
-Spending thousands for video conferencing is now history: Akash Ambani.
-With every Jio Fiber home all our LCO partners will continue to have a steady stream of revenue for their broadcast TV business: Mukesh Ambani.
-"Over the past months we have upgraded our MSO’s infrastructure to world-class standards. Now LCO partners can offer the largest bouquet of High-Definition channels to customers with better features, reliability and customer experience than even DTH.": Mukesh Ambani.
-Jio GigaFiber rollout to be complete in the next 12 months.
-Ambani announces Internet of Things for entire country, home and enterprise broadband, broadband for SME.
-Jio Fiber services to be launched on commercial basis on 5th September 2019 - on the third anniversary of Jio’s launch.
-Revenues from each of its new growth engines to kick-in within FY 2019-20: Mukesh Ambani at RIL AGM.
-Jio GigaFiber will reach 20 million residences
-Saudi Aramco will supply 500,000 barrels per day of crude oil to Reliance refineries after taking stake: Ambani.
-The investment cycle of Jio is complete: Ambani.
-Reliance will get ₹7,000 crore by selling 49% stake in its fuel retail business to BP.
-Reliance will transform itself into a new Reliance, says Mukesh Ambani at company's 42nd AGM
-Mukesh Ambani announced that Saudi Aramco will buy 20% stake in RIL's oil-to-chemical division for $75 billion.
-The slowdown in some sectors of the economy is temporary.
-Fundamentals of India is very strong: Ambani
-We continue to be highest payer of customs and excise duty in the private sector.
-RIL is India's largest exporter.
-Reliance Retail is larger than all other major retailers put together.
-Had Reliance Jio and Reliance Retail been listed, each would have been top 10 in india in terms of value: Ambani.
-We are incubating new growth engines: Ambani
- Mukesh Ambani begins speech.
-In his speech, Ambani can give a peek into RIL’s next leg of growth plans across real estate, petchem and refining.
- RIL is also expected to launch JioPhone 3, the successor to Reliance JioPhone 2, with better specifications and features.
- Reliance Jio is expected to roll out broadband services in three key offerings – base-pack (broadband only), bundled pack (broadband + TV offering) and high-end converged pack with the Internet of Things (IoT) devices.
- Mukesh Ambani to begin speech at 11 am.
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