Reliance AGM 2023: Date, Time, Where To Watch And What To Expect

RIL AGM 2023: Mukesh Ambani-owned Reliance Industries Limited will hold its 46th annual general meeting on Monday, August 28, 2023. As with every other AGM so far, investors will be eagerly waiting for some key announcements from this annual meeting. This will also be RIL’s first AGM after the listing of Jio Financial Services (JFSL) shares on the stock exchanges.

In an exchange filing as well as in a public notice which RIL published in some newspapers on August 5 and 7, addressing the investors' read

"Notice calling the 46th Annual General Meeting (Post-IPO) (AGM) scheduled to be held in compliance with applicable circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India through video conferencing/other audio visual means on Monday, August 28, 2023, at 2:00 pm IST"

The RIL AGM marks one of the most anticipated events of the year in the Indian corporate world where the country’s biggest business conglomerate announces new investments and its vision for the year ahead. 

For all the live updates on RIL's 46th AGM and to watch Mukesh Ambani's speech live head to our live coverage here - Reliance AGM 2023 Live

The Reliance Industries Limited annual general meeting (AGM) will be held on Monday, August 28, 2023 at 2 pm IST.

The 46th AGM of Reliance Industries Limited will be held through video conferencing and can we watched live on the jio.com website here - https://jiomeet.jio.com/meetingportal/rilagm/joinmeeting.

As mentioned on the website, one can join the AGM 30 minutes prior to the scheduled time of the AGM, which is 2 pm IST.

Market experts and investors will be expecting some key announcements from Mukesh Ambani during the Reliance Industries Limited AGM, especially after the recent events that saw Qatar Investment Authority announcing an 8,278 Crore investment in Reliance Retail Ventures, which will value Reliance Retail at a pre-money equity value of Rs 8.3 lakh crore along with the listing of Jio Financial Services. The Jio Financial Services IPO was listed last Monday, August 21, post which the shares of JSFL rose, snapping a five-session lower circuit stream on Friday.

The JSFL stock will be removed from the benchmark indices on Sept. 1, BSE Ltd. announced in a fresh notice. However, the removal will be further deferred even if the stock does not hit the lower 5% band on either of the next two days but touches the limit on the third day.

According to media reports, here are some of the key announcements expected from RIL AGM 2023.

• Expansion plans of Jio Financial Services.

• Updates on RIL 5G rollout and prepaid plans.

• Launch date of Jio AirFiber and Jiobook Laptop.

• Additional information on RIL's plan on integrated renewable energy power projects.

• In RIL's annual report which was released on August 6, Ambani emphasised on the need to address climate change and the steps Reliance is taking towards sustainability and clean energy. One can expect some major announcements around RIL's commitement towards climate change.

• Other expectations would be in regard to the IPO of Reliance Jio and Reliance Retail.

Among other proposals, the shareholders will consider and approve the financial results for the fiscal year ending March 2023. They will also vote on a proposal to reappoint Mukesh Ambani as the managing director for another five years, up to April 18, 2029. He will complete his present term of office on April 19, 2024. This will take his tenure beyond the age of 70 years in April 2027.

Here are some of the key takeaways from Mukesh Ambani's address to shareholders during last year's AGM.

• Jio 5G Services will be launched by Diwali in Metro cities of Delhi, Mumbai, Kolkata, and Chennai. It will be expanded to other cities and towns in phases to cover the entire India in 18 months by December 2023.

• Jio launched JioAirFibre which will provide fibre-like data speeds over the air without any wires.

• Isha Ambani announced that Reliance Retail will launch its fast-moving consumer goods business with an objective to develop and deliver high quality, affordable products to solve every Indian’s daily needs.

• RIL commits Rs 75,000 crore investment in O2C over the next three years.

• To scale up to 20GW annual capacity in a phased manner by 2026.

• Reliance plans to accelerate its committed Rs 75,000 crore investment in fully integrated new energy manufacturing ecosystem at Jamnagar as it aims to establish 20 GW of solar energy generation capacity by 2025 for captive needs of round-the-clock power and intermittent energy for green hydrogen.