Mukesh Ambani’s Reliance Industries Ltd (RIL), India’s biggest business conglomerate in terms of market valuation, is scheduled to hold its 45th Annual General Meeting (AGM) on Monday, August 29, 2022. This year, the RIL boss will address the shareholders through video-conferencing and other audio-visual means. At the AGM, many expect announcements with regard to listing of some of its business units like retail and telecom along with the launch of 5G services. This year’s AGM is a much-awaited event with Ambani often revealing what the oil-to-telecom conglomerate would do next to drive growth.
Shareholders are also awaiting the conglomerate’s green energy plans as well as the launch of 5G services. Last year at the 44th AGM, Ambani had made a slew of announcements related to the solar and new energy business, along with the launch of the JioPhone Next.
Further, analysts expect an announcement on the potential strategic stake sale in O2C, retail and new energy business unit of RIL. The traditional cash cow of Reliance Industries — the O2C business unit could be partially sold, according to investors.
With 5G auctions over and Reliance Jio being the top bidder, expectations are that Ambani’s firm could announce the launch of its 5G service at the AGM on Monday. Earlier this month, Jio spent Rs 88,078 crore and acquired a total of 24.7 GHz of spectrum in the 700 MHz, 800 MHz, 1800 MHz, 3300 MHz, and 26 GHz bands.
Investors would also like to hear from the RIL chairman about specifics on how he plans to invest Rs 75,000-crore set aside for the new energy vertical last year.
Besides the new energy segment, the company may also look to revive oil-to-chemicals business demerger plans.
