RIL AGM: Reliance Industries’ AGM on August 29, Mukesh Ambani May Announce Big Gifts for 3.5 Million Shareholders!

Reliance Industries, the largest private company in India, is holding its Annual General Meeting (AGM) on Thursday, August 29, 2024. This meeting is highly anticipated by Reliance shareholders, with many speculating about potential announcements. Shareholders and global investors are eager to hear about the possible stock market listings of Reliance Jio and Reliance Retail.

**Will Mukesh Ambani Fulfill His 5-Year-Old Promise?**
More than 3.5 million Reliance shareholders are hoping that Chairman Mukesh Ambani will announce a timeline for the listing of Reliance Jio and Reliance Retail, as promised five years ago. In the 2019 AGM, Ambani mentioned that these two companies would be listed on stock exchanges within five years. With the deadline approaching, big announcements are expected at this year’s AGM.

**Jio’s Listing May Happen Through a Demerger**
Last month, in July 2024, global brokerage house Jefferies issued a research note on Reliance Industries, suggesting that Reliance Jio might be listed on the stock exchange by 2025. Instead of launching an IPO, the company might opt for a demerger from its parent company. Jefferies noted that after Jio increased its mobile tariffs, it’s clear that the company is focused on monetization and growing its subscriber market share. This tariff hike has increased the chances of Jio’s public listing in 2025. Launched in 2016, Reliance Jio has grown to become India’s largest telecom company, with revenue of ₹34,548 crore and a profit of ₹5,698 crore in the first quarter of FY 2024-25.

**Global Investors’ Stakes in Reliance Jio**
Reliance Jio has sold 33% of its stake to 13 investors, including 10% to Facebook and 8% to Google. Other investors include Intel Capital, Qualcomm Ventures, Silver Lake, Vista Equity Partners, General Atlantic, and KKR.

**When Will Reliance Retail Be Listed?**
Speculation is also high about the stock market listing of Reliance Retail. Many prominent global investors have invested in Reliance Retail, which reported revenue of ₹75,615 crore and a profit of ₹2,549 crore in the first quarter of FY 2024-25.