Mukesh Ambani: Jio & Reliance Retail IPO unlikely before AGM
Reliance diligence (RIL), the largest listed Indian company, will hold its 44th periodic general meeting (AGM) on Monday, August 29, and Dalal Street will be keenly watching it for cues on the unborn roadmap of the company. According to a report from ET Now, Reliance’s AGM can be a mixed bag for investors as Chairman Mukesh Ambani is doubtful to unmask the sap on demerger plans.
The company is likely to remain tight- lipped on the demerger of its businesses but may partake details over the race plan, places of coming- generation Ambanis and 5G rollout at its AGM. The company is doubtful to give a timeline for the demerger or the original public immolation (IPO) of its two realities Reliance Jio and Reliance Retail.
Reports of IPOs of RIL’s retail and telecom business have been making rounds and it was suspected that Ambani could give a clear roadmap over the decomposition of the empire to unlock value.That said, Ambani is anticipated to give an update on the race plan of the company. He can give clarity on the places of his children–Akash Ambani, Isha Ambani and Anant Ambani in Reliance Jio, Reliance Retail and Reliance’s new energy perpendicular.
India’s alternate richest man lately said that it’s time for elders to pave way for the youngish bones. Following this, Akash Ambani was appointed as the speaker of Reliance Jio. The company is going each ordnance blazing on its new energy perpendicular with multiple accessions and planned capital expenditure of Rs,000 crore over the coming many times.
Reliance is also likely to give an update on 5G rollout, whose transaction was lately concluded. The telecom major would be aiming to make an ingenious 5G network throughout the country, the channel reported. The company is also anticipated to give an update on its important- awaited handset device as it had roped in Google as a stakeholder for Jio Infocomm.
About Reliance Retail
Reliance Retail is the retail initiative of Reliance Industries Limited and is central to the group’s consumer facing businesses. Reliance Retail has been at the forefront of bringing about Organized Retail revolution in India. Its operating model unleashes the aspirational energy of the new, resurgent India. Reliance Retail’s guiding philosophy rests on the tenets of enabling inclusion, growth and building sustainable societal value for millions of Indians.
In a short period, it has forged strong and enduring bonds with millions of consumers by providing them unlimited choice, outstanding value proposition, superior quality and unmatched shopping experience across all its stores. Reliance Retail’s growth over the years has triggered a large socio-economic transformation on an extraordinary scale in India.
Reliance Retail has been ranked as the fastest growing retailer in the world. It is ranked 56th in the list of Top Global Retailers and is the only Indian Retailer to feature in the Top 100. It is the largest and the most profitable retailer in India with the widest reach.
Reliance Retail has nearly 200 million registered customers buying across all its formats. It recorded more than 500 million footfalls across all its stores in FY22, a scale unmatched by any other retailer in India. With over 120,000 transactions per hour, It operates at a scale unparalleled in the Indian retail industry and continues to enrich the quality of lives of millions of Indians every day.
Reliance Retail has adopted a multi-prong strategy and operates a wide array of store formats which cater to planned shopping needs as well as daily or occasional needs of the customers across major consumption baskets of Grocery, Consumer Electronics and Fashion & Lifestyle.
Reliance Retail has a strong presence in digital commerce channels through AJIO.com, a curated fashion & lifestyle store bringing best of national and international brands to customers doorsteps and Jiomart, India’s largest hyperlocal retail solution that leverages the wide network of Reliance Retail’s grocery stores and well-established supply chain infrastructure.