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