Reliance AGM 2022 All eyes will be on Mukesh Ambani’s speech at the 45th general meeting of Reliance Industries. It is expected that today he can make a big announcement regarding the succession of the company. The company can also make some important announcements regarding 5G.
New Delhi, Business Desk. Reliance Industries’ much-awaited General Annual Meeting AGM (Reliance AGM 2022) will begin at 2 pm today. It is believed that Mukesh Ambani, chairman of Reliance Industries Ltd, can make many important announcements during his speech. For the past several years, Mukesh Ambani has been making his major announcements in the AGM itself. In 2016, he also announced the launch of Jio’s services at the AGM itself.
The AGM, which begins at 2 pm via video conferencing, may see some major announcements including succession, 5G rollout timeline and the launch of JioPhone. The AGM is also expected to release the company’s policy roadmap in the retail, telecom and energy sectors.
Possible announcement of new successor
Last year, Mukesh Ambani had indicated that succession planning at Reliance would be expedited. Both his sons Akash, Anant and daughter Isha are already working as directors in unlisted firms of the group. In June, Mukesh Ambani stepped down as the chairman of Reliance Infocomm Limited to replace his elder son Akash. A Bloomberg report has revealed that the company is working on a plan for a change in leadership. Under this, Isha, Anant and possibly Nita Ambani can also be entrusted with some important responsibility in the company.
An important announcement can also be made in the AGM regarding the launch of Reliance’s 5G service. Union Minister Ashwini Vaishnav recently said that the government is hopeful to launch 5G services (5G in India) by October 12. Let us tell you that Reliance Jio was the highest bidder for spectrum during the 5G auction. For 5G, the company has bought airwaves worth more than $ 11 billion. The company can also lift the curtain on the handset with the 5G plan.
At the 44th AGM last year, Ambani made several announcements related to solar power along with the launch of JioPhone Next.
Reliance Jio IPO
There may also be some announcements in the meeting regarding the IPO of Reliance Jio and Reliance Retail Limited. Investors have been waiting for the IPO of Jio and Reliance Retail for a long time.
What will be the changes regarding Reliance Energy
An update can be given this time about the announcements the company made last year to build four giga-factories to make solar modules, hydrogen electrolysers, fuel cells and storage batteries. Analysts are of the view that the company may revive the plan for oil-to-chemicals (O2C) demerger, which was postponed last year.
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