Reliance Industries AGM: Every shareholder of Reliance awaits the Annual General Meeting of Reliance Industries, the country’s largest private sector company. The AGM meeting of Reliance Industries Limited is on Thursday, 29 August 2024 and speculations are already being made in the market about it. Reliance shareholders and global investors are eager to hear in the AGM when Reliance Jio and Reliance Retail will be listed on the stock exchange?
Will Mukesh Ambani fulfill the promise made 5 years ago?
More than 35 lakh shareholders of Reliance are hoping that Reliance Industries Chairman Mukesh Ambani can announce the timeline for the listing of Reliance Jio and Reliance Retail as per the promise made in the AGM five years ago. In the 2019 AGM meeting, Mukesh Ambani had talked about listing Reliance Jio and Reliance Retail on the stock exchanges in the next five years. Now five years have passed since this announcement, so big announcements are expected in the AGM meeting of Reliance Industries this year.
Jio’s listing may happen through demerger!
Last month in July 2024, global brokerage house Jefferies issued a research note on Reliance Industries, which said that telecom company Reliance Jio could be listed on the stock exchange in 2025. According to the note, there is a high possibility that instead of bringing an IPO of Reliance Jio, the promoters can demerge it from the parent company and get it listed on the stock exchange.
Jefferies said, after Jio’s mobile tariff hike, it is clear that the company’s focus is on monetization and increasing the market share of subscribers. After the mobile tariff hike, the possibility of Jio’s public listing in 2025 has increased. Reliance Jio, which launched the telecom business in 2016, has become the country’s largest telecom company. In the first quarter of the financial year 2024-25, April-June, Reliance Jio’s revenue was Rs 34,548 crore and profit was Rs 5,698 crore.
Global investors invest in Reliance Jio
33% stake in Jio has been sold to 13 investors in which 10% is with Facebook and 8% is with Google. Apart from this, top equity funds like Intel Capital, Qualcomm Ventures and Silver Lake, Vista Equity Partners, General Atlantic and KKR also have stake in Reliance Jio.
When will Reliance Retail be listed?
There are speculations about the listing of Reliance Retail on the stock exchange. Many big global investors have invested in Reliance Retail. In the first quarter of the financial year 2024-25, the revenue of Reliance Retail was Rs 75,615 crore and the company has made a profit of Rs 2549 crore.
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