The 46th Annual General Meeting of Reliance Industries is going to be held on Monday i.e. 28 August. During this, the eyes of all investors will be on Mukesh Ambani's speech. Investors are hopeful that Mukesh Ambani can announce something special.
In the last few years, some big announcements from the Ambani family usually happen in the AGM. For this reason, the meeting to be held on Monday can be special. However, this year the Ambani family has made two big announcements, including the listing of Jio Finance Services and the decision to sell stake in Reliance Retail Ventures.
Preparing to bring IPO of retail business
On Wednesday, the group announced that the Qatar Investment Authority would take a roughly 1 per cent stake in the retail arm, valuing the country's largest retail company at $100 billion. The valuation of Ambani's retail business has doubled within three years. In such a situation, preparations are being made to bring its IPO.
What can be announced
Let us tell you that Reliance Jio is on its way to complete 5G rollout across India before December this year. AGM this thing can be reiterated. At the same time, announcement can be made on the roadmap regarding the business of Jio Finance Service. Apart from this, an update on investment in Reliance New Energy in the energy sector can also be issued.
Significantly, in the year 2019, in the AGM of RIL, Mukesh Ambani announced the plan to list the telecom and retail business of the group for the first time. At the same time, in the year 2020, Ambani had made a plan to raise a huge fund by selling stake in both Reliance Jio and Reliance Retail to major private equity firms and sovereign wealth funds.
After this, Reliance Retail Ventures raised Rs 47,265 crore, taking the company's value to Rs 4.21 lakh crore. The sharp expansion in valuations may attract private equity investors. In such a situation, it is expected that Ambani will add some color to the IPO of Reliance Retail in the AGM.
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