JioPhone launch at Reliance AGM highlights: Chairman Mukesh Ambani announces 1:1 bonus issue

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JioPhone launch at Reliance AGM highlights: Chairman Mukesh Ambani announces 1:1 bonus issue
  • 12:47 (IST)

    Reliance Industries announces 1:1 bonus issue, shareholders to get one bonus share for every share held

  • 12:16 (IST)

    Highlights of the launch

    — Jio has made India the number 1 data-consuming country in the world
    — It will soon cover 99% of India’s population with 4G displacing 2G as biggest coverage
    — Introducing the JioPhone which will offer free data calls and unlimited data @ Rs 153 a month

  • 12:13 (IST)

    Jio will democratise digital culture in India

    "Digital life will no longer be the privilege of the affluent few. Reliance democratised the equity culture in the past. Now, Jio will democratise the digital culture in India. JioPhone to be available for user testing from August 15. The target is to have 5 million JioPhones available every week," says Mukesh Ambani. 

  • 12:11 (IST)

    Reliance shares off highs; Bharti Airtel down 3.5%, Idea Cellular 5.8%


    Shares of Reliance Industries off the highs. At 12.07 pm, the stock on the BSE was at 1563 up 2 percent. Earlier the stock was up nearly 4 percent. Meanwhile, Bharti Airtel shares were down 3.5 percent and Idea Cellular 5.8 percent.

  • 12:06 (IST)

    JioPhone to be physically available from September 2017

    "JioPhone to be physically available from September 2017 to those who have pre-booked it. JioPhone pre-booking to be open from 24 August. Digital life will no longer be the privilege of the affluent few. Reliance democratised the equity culture in the past. Now, Jio will democratise the digital culture in India. JioPhone to be available for user testing from August 15. The target is to have 5 million JioPhones available every week," says Ambani.

  • 12:04 (IST)

  • 12:02 (IST)

  • 12:01 (IST)

  • 12:01 (IST)

    Here are the tariff and price details

    Voice will always be free

    Data: “Starting 15 August, I am declaring digital freedom for all feature phone users.“, says Ambani. Such users will have access to unlimited data.
    The above will be provided to users at just Rs 153 per month.

    Jio engineers have created a ‘Jio Phone TV cable’ that will let any Jio feature phone connect to any TV. The best part is that the connector is compatible even with old, CRT TVs. “All Jio Phone users can enjoy viewing Jio Phone content on the big screen.” says Ambani.

  • 12:00 (IST)

    JioPhone specs

    The Jio phone will automatically send a distress message to your emergency contacts when you press and hold the ‘5’ button. This feature phone will even send your location. Integration with local police services and other emergency services will be arriving soon.

    NFC support is coming to the Jio phone as well. This opens up options for NFC payments and digital transactions. You can link UPI, JanDhan accounts, etc. to the phone. The feature will be enabled via a future software update.

Private sector conglomerate Reliance Industries' much-awaited annual general meeting is about to start today, with analysts expecting a few announcements by chairman Mukesh Ambani.

In a recent note, after Reliance Jio announced the new plans, brokerage CLSA hadd said that the AGM on 21 July is the next key event to watch out for as it may provide more clarity on new legs to Jio's growth, i.e, broadband and 4G feature phones.

 JioPhone launch at Reliance AGM highlights: Chairman Mukesh Ambani announces 1:1 bonus issue

Reuters

Clearly, the focus is going to be on Reliance Jio.

The company on Thursday said Reliance Jio will raise Rs 20,000 crore through a rights issue to meet funding requirements.

"The Board of Directors at its meeting held on July 20, 2017 has decided to make a rights issue of four billion - nine per cent non-cumulative optionally convertible preference shares (OCPS) of Rs 10 each for cash, at a premium of Rs 40 per OCPS, aggregating Rs 20,000 crore," Reliance Jio Infocomm said in a regulatory filing.

The Mukesh Ambani-led firm launched 4G services commercially on 5 September 2016 with free data and voice offerings, and signed up the first 50 million subscribers in just 83 days.

The company started charging for mobile services from 1 April but continues to offer disruptive data rates and free voice calls.

Earlier this month, Jio rolled out new plans after its Dhan Dhana Dhan offer -- launched on April 11 -- reached the maximum allowed 90-day period.

It has lowered validity and data on a revamped Rs 309 plan, but is dishing out a bumper 84GB for Rs 399. Jio had over 112 million users at the end of April 2017.

(Disclosure: Reliance Industries Ltd is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd)

Updated Date: Jul 21, 2017 13:49:47 IST



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