 "Reliance AGM: Where and how to watch Reliance's 46th annual general meeting")
Reliance Industries Ltd (RIL) will hold its 46th annual general meeting (AGM) for the shareholders on Monday. This will be televised live through videoconferencing and other audio-visual means.
Announcing the date and time of the Reliance AGM 2923, the company had earlier said in a regulatory filing, "This is to inform that the Forty-sixth Annual General Meeting (Post-lPO) of the Members of the Company will be held on Monday, August 28, 2023, at 2:00 pm (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."
Mukesh Ambani, chairman of Reliance Industries, will address the shareholders and talk about the company's past performance and further plans.
The Reliance AGM 2023 is important as it comes just one week after the listing of Jio Financial Services on the Indian bourses. The stock has not performed well. Since its listing on August 21 at Rs 264 apiece, the share price has fallen 20 per cent to Rs 212.25.
The investors will be keen to know the company's plans and other insights into the business of JFSL. Last week, the exclusion of JFSL shares from Sensex and other indices was postponed to September 1.
What time is Reliance AGM?
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The Reliance AGM 2023 will be held at 2 pm. The shareholders will be allowed to join the meeting 30 minutes prior to that at 1:30 pm.
RIL AGM 2023: Where to watch?
The RIL's 46th annual general meeting will be held through video conferencing. The Reliance AGM can be watched live on the jio.com website at the link: https://jiomeet.jio.com/meetingportal/rilagm/joinmeeting
The AGM will also be streamed live on the company's official channel on YouTube.
What to expect from Reliance AGM?
Some key announcements related to the listing of its retail business, Reliance Retail, may also be announced. Other announcements, like plans for further value creation and expansion of 5G under Reliance Jio, will also be worth noting.
Ambani may also provide information on its integrated renewable energy power projects. In RIL's annual report released on August 6, Ambani emphasised the need to address climate change and the steps Reliance is taking towards sustainability and clean energy.
Among other proposals, RIL's shareholders will consider and approve the financial results for the fiscal year ending March 2023.
The shareholders will also vote to re-appoint Ambani as the managing director of the firm for another five years, up to April 18, 2029. He will complete his current term on April 19, 2024.
RIL AGM: Key takeaways from last year's annual general meeting
In RIL 2022, Ambani made several noteworthy announcements. Here are some of those:
Launch of Jio 5G in metro cities like New Delhi, Mumbai, Kolkata and Chennai on Diwali. Its further plan is to cover the entire nation in 18 months till December 2023.
Launch of JioAirFibre for fibre-like data speed without wires.
Announcement of its new FMCG business under Reliance Retail. Tie-up with Meta to launch JioMart on WhatsApp.
Investment of Rs 75,000 crore in oil-to-chemicals business in next three years.
A 100 GW Solar PV cell and module manufacturing facility at Jamnagar to start production by 2024.