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Home >Companies >News >RIL AGM 2020 updates: Ambani echoes PM Modi's 'atmanirbhar Bharat', says RIL to work with Indian startups

NEW DELHI : Mukesh Ambani-led Reliance Industries, India's most valued firm, is holding its 43rd annual general meeting (AGM) today. This is the company's first online AGM where shareholders can participate virtually using the company's recently launched video conferencing service JioMeet. Since April 22, Reliance has sold 25.24% stake in its subsidiary Jio Platforms Ltd for 1,18,318.45 crore to a dozen investors including Facebook. Investors are now awaiting clarity on RIL's oil-to-chemicals deal with Saudi Aramco and update on JioMart's plan following the deal with Facebook.

As its shares have surged over 120% since mid-March, Reliance Industries today broke into the list of top 50 most valuable publicly traded firms globally.

Google has agreed to invest 33,737 crore to buy a 7.7% stake in Reliance Industries' technology venture Reliance Jio platforms, Mukesh Ambani announced today.

Catch all the LIVE UPDATES of Reliance Industries' 43rd AGM:

Reliance ranks among the World’s 60 largest companies by m-cap

Reliance is now ranked among the World’s 60 largest companies by market capitalization. And when Reliance scales still higher summits of success, our employees and shareholders will surely reap its rewards: Mukesh Ambani at RIL AGM

Ambani echos PM Modi's Atmanirbhar Bharat

Reliance will work with other Indian companies, including start-ups, to vigorously promote Made-in-India, Made-for-India and Made-for-the-World products: Mukesh Ambani at RIL AGM

Reliance to become as one of the world’s leading new energy and new materials company, says Ambani

We have a 15-year vision to build Reliance as one of the world’s leading new energy and new materials company. The New Energy business is a multi-trillion dollar opportunity for India and the world: Mukesh Ambani at RIL AGM

What Mukesh Ambani said at AGM

Reliance also has proprietary technology to convert transportation fuels to valuable petrochemical and material building blocks. Also, it will replace transportation fuels with clean electricity and hydrogen: Mukesh Ambani at RIL AGM

What Ambani said about CO2 emissions

Substantial progress has been made on photosynthetic biological pathways to convert CO2 emissions at Jamnagar into high value proteins, nutraceuticals, advanced materials and fuels: Mukesh Ambani at RIL AGM

Reliance Foundation plans mega-scale COVID testing across India

Reliance Foundation is gearing up to partner with the government and local municipalities, for mega-scale COVID testing across India, with the help of Jio’s digital infrastructure: Nita Ambani at AGM

Reliance is committed to embracing new technologies: Ambani

Reliance is committed to embracing new technologies to convert CO2 into useful products and chemicals. Transforming our energy business to tackle a big challenge before India and the World is our new growth opportunity: Mukesh Ambani at RIL AGM

First three Industrial Revolutions based on fossil fuel: Ambani

The first three Industrial Revolutions based on fossil fuels disturbed the natural Carbon Cycle on Planet Earth. The Fourth Industrial Revolution has the opportunity to repair and restore the Carbon Cycle: Mukesh Ambani at RIL AGM

RIL leveraged its deep understanding of global markets: Ambani

During lockdown, RIL leveraged its deep understanding of global markets and enhanced petrochemical and fuel exports over 2.5 times in just two weeks. In Apr’20, the O2C business accounted for nearly 50% of India’s exports: Mukesh Ambani

Reliance Retails sources over 80% of fruits and vegetable directly from farmers

More than two-thirds of Reliance Retails’ nearly 12,000 stores are operated in Tier II, Tier III and Tier IV towns. Its sources over 80% of fruits and vegetable directly from farmers: Mukesh Ambani at RIL AGM

Reliance Retail is India’s largest and most profitable retail business

Reliance Retail is India’s largest and most profitable retail business, with revenues of 1,62,936 cr and EBITDA of 9,654 cr. It is the fastest growing retailer in the world, and only Indian co in the Top 100 global retailers: Mukesh Ambani at RIL AGM

Facebook and Jio share a strong vision: Ambani

Facebook and Jio share a strong vision for digitally empowering consumers as well as SMEs and entrepreneurs across India: Mukesh Ambani at RIL AGM

JioMart and WhatsApp will be working closely

JioMart and WhatsApp will be working closely to create growth opportunities for millions of Indian small merchants and enable customers seamlessly transact with kirana shops: Mukesh Ambani

2G-mukt India

As India is standing at the doorsteps of the 5G era, we should accelerate the migration of 350 million Indians, who currently use a 2G feature phone, to an affordable smart phone: Mukesh Ambani

Google and Jio are partnering to build an OS

Google and Jio are partnering to build an Operating System that could power a value engineered, entry-level 4G/5G smartphone. The Jio-Google partnership is determined to make India 2G-mukt: Mukesh Ambani

JioMart empowers kirana stores

JioMart is built to digitally enable, empower and engage kirana stores. Kiranas will stay connected and transact with their customers on the JioMart platform, facilitated by a multifunctional POS: Isha Ambani at RILAGM

JioMart changes how India shops

JioMart is built upon two fundamental pillars: 1. A powerful omni-channel tech-platform to unite customers, kiranas and producers. 2. A widespread physical network of Reliance Retail that takes benefits of new commerce to every corner: Isha Ambani at AGM.

Jio 5G

Reliance Jio's 5G network is built entirely by Jio employees in India, says Akash Ambani

Jio’s latest innovation: Jio Glass

Jio’s latest innovation, Jio Glass, is at the cutting edge of technology that provides best-in-class Mixed Reality services to give users a truly meaningful immersive experience: Kiran Thomas at AGM

Ambani shares his vision for Jio

"Jio Platform will be positioned for 5G solution to other telecom operators... Jio Platform is conceived with this vision of developing original, captive, intellectual property," says Mukesh Ambani

What Jio App store to offer

Through the Jio App Store on the Set Top Box, one can access internet applications across multiple genres such as entertainment, education, health, cooking, yoga, gaming, religion, and many more: Akash Ambani at AGM

With JioFiber, we have re-imagined TV: Akash Ambani

For decades, TV content has been largely broadcast-dependent without any interactivity. With JioFiber, we have re-imagined this experience and brought interactivity to TV: Akash Ambani at AGM

How will 5G network will help

Using these technologies, we can create compelling solutions across multiple industry verticals like Media, Financial Services, New Commerce, Education, Healthcare, Agriculture, Smart Cities, Smart Manufacturing & Smart Mobility: Mukesh Ambani at AGM

Jio 5G network

Jio Platforms, with over 20 start-up partners, has built world-class capabilities in technologies such as 4G, 5G, Cloud computing, Devices and OS, Big Data, AI, AR/VR, Blockchain, Natural Language Understanding & Computer Vision: Mukesh Ambani at 43rd AGM

Jio to launch made-in-India 5G network

Jio’s global-scale 4G and fiber network is powered by several core software technologies and components. It is this capability and know-how that positions Jio on the cutting edge of another exciting frontier – 5G: Mukesh Ambani

Jio will connect half a billion mobile customers

In the next three years, Jio will connect half a billion mobile customers, a billion smart sensors and 50 million home and business establishments: Mukesh Ambani

Rights issue: Details

Cumulatively, RIL has raised 2,12,809 crore through rights Issue, combined investments in Jio Platforms, and investment by BP. It is in excess of our Net Debt of 1,61,035 crore at the end of FY19-20: Mukesh Ambani

RIL completed India's largest ever rights issue

Mukesh Ambani, at the 43rd RIL AGM says, "Completed India's largest ever rights issue, issue was over subscribed 1.59 x a unique feature of RILs rights issue was that it was completed entirely on a digital platform during the lockdown period​.

India's largest rights issue

We completed India's largest rights issue with over-subscription of over 1.59 times, says CMD Mukesh Ambani.

Here are the partners in Jio Platforms

Facebook

Silverlake

Vista

Adia and Mubadala of UAE

PIF of Saudi Arabia

Google — strategic partner

Intel and Qualcomm

Google to invest 33,000 crore in Jio Platforms for 7% stake, announces Ambani

RIL becomes first Indian company to achieve this

Reliance becomes the first Indian company to exceed the market capitalisation of $150 billion, says Mukesh Ambani.

RIL's achievements

Reliance Industries has recently become the first Indian company to cross 12-million market capitalisation.

Reliance Industries' 43rd AGM starts

A new virtual platform will allow more than 1 lakh shareholders from 500 locations to join Reliance Industries' 43rd AGM. An educative Chatbot via Whatsapp enables shareholders to ask questions & vote on resolutions.

Mukesh Ambani addresses Reliance Industries’ first virtual AGM

5 things to watch out for in RIL's AGM today:

-Update on the 20% stake sale in its oil to chemicals (O2C) business to Saudi Aramco announced in last year’s AGM

-Overseas listing of Jio Platforms

-Future plans for Reliance Retail and JioMart

-Value unlocking plans in fibre and tower infrastructure via InvITs funds

-RIL's vision for decarbonisation of energy molecules to create value-added products with almost no carbon emissions

RIL became net debt-free in June

The oil-telecom-to-retail major has successfully achieved its target set in the last AGM — to become a net debt free well before its schedule of March 31, 2021, by selling more than 25% stake in Jio Platforms, rights issue of 53,124 crore and stake sale to British energy giant BP in the petro-retail joint venture.

RIL had India's biggest rights

Reliance also had India's biggest rights issue which was subscribed 1.5 times

RIL raised 1.18 trillion from Jio stake sale

Reliance Industries raised 1,18,318.45 from global investors by selling 25.24% stake in Jio Platforms Ltd. The list of global investors include Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, Qualcomm, L Catterton and PIF since April 22, 2020.

As many as 13 such investments in 12 week have taken the total stake that Reliance sold in Jio Platforms to 25.2 percent.

India’s richest man surged past Elon Musk as well as Sergey Brin

Reliance Industries chairman and managing director Mukesh Ambani' wealth has now surpassed the net worth of Tesla's Elon Musk and Google co-founders Sergey Brin and Larry Page.

The Reliance Industries (RIL) Chairman's net worth is $72.4 billion, making him the world's sixth richest person, according to the Bloomberg Billionaires Index.

When and where to watch RIL 43rd AGM

Reliance Industries will hold its first virtual 43rd AGM on Wednesday. The event is is scheduled to start at 2 pm.

Reliance will stream the event live on the company’s official website as well as YouTube. For the first time, Reliance will allow users to enter the webinar through JioMeet video conferencing platform.





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