Reliance AGM highlights: Mukesh Ambani welcomes Google to Jio Platforms

Reliance Industries Chairman Mukesh Ambani addressing 43rd Reliance AGM
Google will invest Rs 33,737 crore for a 7.7 per cent stake in Jio Platforms, announced Reliance Industries chairman, Mukesh Ambani at the 43rd Annual General Meeting of RIL shareholders.

Addressing shareholders virtually, Ambani thanked them for their faith in the company and highlighted the recent capital raising efforts of the company that include a rights issue and stake sales in Jio Platforms.

Calling coronavirus the most disruptive event in modern world history, he said that adversity brings opportunity for growth.

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Here are the highlights of Reliance AGM
  • Google will invest Rs 33,737 crores for a 7.7 per cent stake in Jio Platforms.
  • Reliance Industries became the first Indian company to cross market capitalisation of $150 billion.  
  • JioMeet app the first cloud-based video conferencing app in India launched
  • Highest GST and VAT payer in the country with Rs 21,660 cr of payments. 
  • In the current financial year, RIL raised Rs 212,809 crore via rights issue, investment in Jio, and investment by BP.
  • Target for raising capital is now complete and Reliance Industries has now become a debt-free company.
  • Jio has developed a 'Made in India' 5G solution from scratch. Trials to begin once 5G spectrum is allocated.
  • Mukesh Ambani dedicated the 5G Solution to PM Modi under Atmanirbhar Bharat
  • Jio Platforms will be positioned for 5G solutions to other telecom operators by next year.
  • Design an entry level 4G, or even 5G smart phone, to support India's cellular market
  • Google and Jio will partner to develop Android based smart phone Operating System
  • New product called Jio Glass launched for conducting virtual reality meetings
  • Reliance Jio is determined to make India "2G-mukt", says Mukesh Ambani
  • Mukesh Ambani dedicates the 5G Solution to PM Modi under Atmairbhar Bharat
  • DEN and Hathway Cable being merged into Network18 and TV18. 
  • Investment in RIL will be our biggest investment under the recently announced $10 billion digitisation fund, says Sundar Pichai
  • RIL making rapid progress in Azure cloud partnership with Microsoft
  • Revenue from retail business grew 8 times in last five years
  • Jio ready to partner startups to help them reach their full potential
  • Will approach NCLT with our proposal to spin off our O2C biz into a separate subsidiary
  • Target to become net carbon-free company by 2035
  • Saudi Aramco deal has not progressed as expected due to disruption in energy markets
  • Received strong interest from investors and bankers to invest in Reliance Retail


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