RIL AGM 2019 Updates: Reliance Industries aims to become zero net-debt company in next 18 months: Mukesh Ambani

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RIL AGM 2019 Updates: Reliance Industries aims to become zero net-debt company in next 18 months: Mukesh Ambani
  • 12:44 (IST)

    Reliance to induct global partners; list retail and telecom business

    "We will induct global partners in Jio and Reliance Retail and will move towards listing these two entities in the next five years," says RIL CMD. 

  • 12:42 (IST)

    Shareholders will be rewarded abundantly: Mukesh Ambani

  • 12:40 (IST)

    Aim to be zero-debt company by 31 March 2021: Mukesh Ambani

    RIL chief Mukesh Ambani says, "We aim to be zero-debt company by 31 March 2021." 

    "Based on the new and existing growth engines, we can grow EBITDA by 15 percent annually over the next five years," says Mukesh Ambani.

  • 12:36 (IST)

    Connectivity to tech startups

  • 12:35 (IST)

    'Jio Institute will be country's largest research university'

    Jio Institute will be the country's largest research university, says RIL CMD Mukesh Ambani.

  • 12:33 (IST)

    Special task force set up for J&K, Ladakh

    Responding to Prime Minister Narendra Modi, we will support the people of Jammu, Kashmir and Ladakh in their developmental efforts, says RIL CMD Mukesh Ambani.

  • 12:30 (IST)

    Small must only survive but thrive in New India: Mukesh Ambani

  • 12:29 (IST)

    Merchant point of sale solution is integral: Mukesh Ambani

  • RIL's announcements may give sleepless nights to market rivals

    A slew of major announcements that can give sleepless nights to competitors across digital businesses follow. Relience Industries Limited CMD Mukesh Ambani lays out his big plans to take the Jio brand to the next level of growth by unlocking the potential of Jio fiber future growth engines. These include internet of things (IoT) platform that, Ambani said, will be commercially available from 1 January 2020 with a revenue potential of Rs 20,000 crore a year, the home broadband that aims to reach 20 million residences, TV Broadcast and plans for small businesses. 

    Ambani next announces that Jio Fiber services will be available from 5 September and will be priced between Rs 700 to Rs 10,000  depending on the services offered. The focus is on households offering free international calls, first-of-its-kind entertainment e-commerce services using virtual reality and mixed reality products. One need to wait for the details to assess the actual impact, but in a nutshell, what it means is that Jio has commenced the next level of big disruptions in the digital market that’ll force all competition to realign drastically or perish.

  • 12:25 (IST)

    We are among top 200 retailers in world: Mukesh Ambani

    We are the only Indian retailer to be ranked among the world's top 200 retailers, says Mukesh Ambani. New commerce is a massive business opportunity, he said. "Will deploy IoT, AI and blockchain on a pan-India basis under new commerce," he said.

  • 12:22 (IST)

    'Reliance Digital is leader in consumer electronics in India'

    Reliance Digital is the leader in consumer electronics in India, says RIL CMD Mukesh Ambani. Reliance Digital sold a TV every 24 seconds, a phone every two seconds, says Mukesh Ambani. 

  • 12:21 (IST)

    Reliance Retail provides hyper-platform

    Reliance Retail provides a hyper-growth platform.  There is three-fold rise in per-store connectivity in Reliance Retail, says RIL CMD Mukesh Ambani.

  • 12:19 (IST)

    Creating disruptive technologies

  • 12:19 (IST)

    Jio subscriber base at over 340 mn: Mukesh Ambani

    Mukesh Ambani on Monday said that Jio which has amassed over 340 million subscribers in less than three years, is now ready to fire four new growth engines including Internet of Things (IoT) for the entire country, home and enterprise broadband services as well as broadband for SMEs.

    Terming Jio's journey since 2016 as "incredible", Ambani said that India was "data dark" before the entry of Jio into the telecom market. "Jio has made India data-shining bright. Today Jio customer base stands at over 340 million... The potential for growth is immense and half a billion customers, is now I believe well within our reach," he said.

  • 12:15 (IST)

    Two special announcements for budding startups

    Mukesh Ambani makes two special announcements for startups and SMBs. The company has invested in 14 startups that complement Jio's services, said the RIL chief. Jio will make connectivity and cloud infrastructure absolutely free for budding startups, says Ambani. 

    Jio will make connectivity and cloud infrastructure absolutely free for budding startups.

    Special connectivity services for startups will be available from 1 January 2021, says RIL AGM Mukesh Ambani. Startups can register on the Jio portal.

    Jio connectivity and applications will be available for small and medium businesses at Rs 1,500 per month, he said.

  • 12:13 (IST)

    Reliance Jio, Microsoft inks pact

    Mukesh Ambani says Jio and Microsoft have entered into a long-term alliance. As a part of this alliance, while Jio will set up large data centres across India, Microsoft will bring the Azure platform to Jio, says the RIL CMD. 

  • 12:08 (IST)

    Jio to install blockchain networks: Mukesh Ambani

    Using blockchain, RIL to offer data privacy for Indians; Jio will install blockchain networks across India, says Mukesh Ambani, CMD, RIL. The company has invested in 14 startups that complement Jio's services, he said.

  • 12:05 (IST)

    Key features of JioGigaFiber

  • 12:05 (IST)

    Free HD 4k LED television,set-top box for Jio Fiber customers

    Jio Fiber customers who take up the annual plan will get an HD 4k LED television and a set-up box for free, says Mukesh Ambani.

  • 12:03 (IST)

    Voice calls from home to any Indian operator to be free for lifetime

    Voice calls from home to any Indian operator, mobile or fixed line will be free for lifetime, says Mukesh Ambani.

  • 12:00 (IST)

    Jio First Day First Show 

    RIL chief Mukesh Ambani says, "Jio fiber plans will come bundled to most premium OTT services. We are announcing disruptive service: Premium Jio customers will be able to watch a movie the same day it is released in theatre. We call this Jio First Day First show. We will announce its launch in the middle on FY20."

  • 11:57 (IST)

    Jio Fiber to be available from 5 September: Mukesh Ambani

    Jio Fiber will be available from 5 September 2019 onwards, says Reliance Industries CMD Mukesh Ambani. He further says that Jio Fiber's mixed reality device to be available for commercial purchase soon at an affordable rate.

    Jio Fiber tariffs are based on four principles: simple to easy to understand tariff plans; average download fixed line speed in US is 90 megabytes per second. Jio's plans will start at 100 mbps and have plans of 1000 mbps. This will disproportionately improve the quality of fixed line data in India. Pricing our plans at less than 1/10th of global plans.

    It will be priced between Rs 700-10,000 to suit every budget, every need. Customers should pay for only one service: either voice or data and not both. Voice calls from home to any Indian operator--mobile or fixed to be free.

    Fixed international voice calling, we are ending the era of high international calls. Lowest international calls on Jio tariff will be 1/5th to 1/10th of existing prices. To US and Canada, unlimited voice calling so families can connect

  • 11:54 (IST)

    Rise of Jio subscribers

  • 11:53 (IST)

    Saudi Aramco to acquire 20% stake in RIL's oil to chemical business

    Mukesh Ambani on Monday announced that Saudi oil giant Aramco has agreed to take a 20 percent stake in his flagship Reliance Industries' oil refinery and chemical business at an enterprise value of $75 billion (around Rs 5,32,466 crore).

  • Investors hope Reliance Group's expansion plans to give fresh boost to share

    In the previous years, RIL AGMs have been venue to bigbang announcements including the launch of Jio. Jio disrupted the Indian telecom market posing threats to all its competitors like very few firms have done before. In today's AGM, investors are betting big on Ambani's plans for new ventures. In that hope, RIL shares have rallied in the past---about 20 percent since last AGM. Investors hope that group's expansion plans will give a fresh boost to the share. It's not just RIL's investors and customers, even competitors are waiting for Ambani';s speech for the group's next big move.

  • 11:51 (IST)

    Augmented reality, virtual reality has changed the world: Isha Ambani

    Augmented Reality (AR) and Virtual Reality (VR) has transformed the world. Mixed Reality (AR+VR) will be available on Jio GigaFiber, says Isha Ambani.

  • 11:50 (IST)

    We will launch the first multi-player gaming platform: Akash Ambani

    We will launch the first multi-player gaming platform, says Akash Ambani at the RIL AGM. Zero latency gaming platform will be provided with the Jio GigaFiber, says Akash Ambani.

  • 11:46 (IST)

    'RIL gets 15 mn registrations for home broadband service'

    Mukesh Ambani, CMD, Reliance Industries says that they have received 15 million registrations from 1,600 towns for home broadband service.

  • 11:43 (IST)

    JioGigaFiber to connect 20 mn residents: Mukesh Ambani

    Mukesh Ambani says that they aim to connect 20 million residents and 25 billion businesses on JioGigaFiber. The company has designed the Jio Set Top Box to accept broadcast signal from LCO partners, Ambani says. Jio Fiber will provide MSMEs cloud connectivity, Ambani said.

  • 11:42 (IST)

    'Jio Fiber will provide MSMEs cloud connectivity'

    RIL CMD Mukesh Ambani says that Jio Fiber will provide MSMEs cloud connectivity. Jio Fiber is aiming to empower 2.4 million SMEs, says RIL chief.  

  • 11:40 (IST)

    'Jio to connect 1 billion Indian homes on its Internet-of-Things platform'

    Jio to connect 1 billion Indian homes on its Internet-of-Things platform, says Mukesh Ambani. IoT, Home Broadband, Entertainment and MSME Broadband will be the next growth engines for Jio, he says.

  • 11:39 (IST)

    LCO partners to have steady stream of business: Mukesh Ambani

  • 11:37 (IST)

    RIL to complete Jio Fiber rollout in the next 12 months: Mukesh Ambani

    RIL will complete the Jio Fiber rollout in the next 12 months, says Mukesh Ambani.

  • 11:34 (IST)

    Jio's IoT platorm will be commercially available from 1 January 2020

    Jio's IoT platorm will be commercially available from 1 January 2020. This offers Rs 20,000 crore revenue opportunity on an annual basis, says Mukesh Ambani.

  • 11:32 (IST)

    Rs 20,000 cr per year revenue opportunity for Jio

  • Ambani’s huge thumbs-up to Modi’s $ 5trillion dream

    Mukesh Ambani starts with giving a big thumbs up to Indian economy and plays down the slowdown problem. Ambani says the ongoing economic slowdown is temporary and the structural reforms being undertaken by the Narendra Modi government will pave way for further expansion in the economy in the long term.  The RIL chief not only hails Modi government’s $5 trillion target but even bet that India has the potential to become $10 trillion economy by 2030. The fact that one of the largest industrialists in the country is endorsing the government’s growth narrative is a big positive for Modi government and investors

  • 11:29 (IST)

    Invested Rs 3.5 lakh cr for digital infrastructure

    RIL has invested Rs 3.5 lakh crore to create a digital infrastructure in India, says Mukesh Ambani. India was data-dark before Jio, it has been made data shining bright by Jio, says Mukesh Ambani.

  • 11:28 (IST)

    Consumer businesses to contribute 50% to RIL's consolidated EBITDA

  • 11:27 (IST)

    Thriving in digital space 

    "Jio to earn a significant part of digital growth," says Reliance Industries Limited's chairman and managing director Mukesh Ambani in 42nd AGM. 

  • 11:26 (IST)

    RIL-BP tie-up

  • 11:25 (IST)

    Indians have an annual Rs 5 lakh cr digital spends: Mukesh Ambani

    Indians have an annual Rs 5 lakh crore of digital spends; Jio is positioned to take advantage of this, says Mukesh Ambani.

  • 11:24 (IST)

    Three major growth engines drive RIL, says Mukesh Ambani

    Addressing stakeholders at the 42nd AGM, Reliance Industries chairman and managing director Mukesh Ambani said, "Only diversified Indian enterprise with three major growth engines in one single corporate entity – Oils to Chemicals division, Jio and Retail. All three have done exceedingly well in the past year. We are also incubating newer growth engines."

  • 11:23 (IST)

    'World moves towards electric vehicles'

  • 11:21 (IST)

    RIL, Saudi Aramco agree to form long-term partnership

    Saudi Aramco to buy 20 percent stake in RIL oil-to-chemicals biz for $75 billion, says RIL CMD Mukesh Ambani. RIL has the most comprehensive and integrated oil to chemicals business, says Mukesh Ambani.

  • 11:19 (IST)

    RIL, Saudi Aramco agree to form a long-term partnership

  • 11:18 (IST)

    'Signing up 10 mn customers each month'

  • 11:18 (IST)

    'Signing up 10 mn customers each month'

  • 11:17 (IST)

    'Sceptics used to say Reliance cannot succeed in retail business'

    Sceptics used to say Reliance cannot succeed in retail business, but we proved them wrong, says RIL CMD Mukesh Ambani.

    Reliance will transform itself into a new Reliance, says Mukesh Ambani.

  • 11:16 (IST)

    Reliance Retail is larger than most other retailers put together: Mukesh Ambani

    Reliance Industries chairman, speaking at the company's AGM, said that Reliance Retail is larger than most other retailers put together. He added that RIL continues to be India's largest exporter.

    "Sceptics used to say Reliance cannot succeed in retail business, but we proved them wrong," Ambani said.

  • 11:14 (IST)

    'India to become $10 tn economy by 2030'

    RIL chief Mukesh Ambani says that India will become a $10 trillion economy by 2030. 

RIL AGM 2019 Latest Updates: Reliance Industries Ltd (RIL) will hold its 42nd Annual General Meeting (AGM) in Mumbai on Monday. In previous years, the RIL AGMs have been the venue to announce big launches including the Jio rollout that turned out to be one of the biggest disruptors in the Indian telecom sector.

What surprises will today's (12 August) AGM hold for investors and customers? One expectation is that an announcement will be made on the launch of fibre-to-the-home (FTTH) service of Jio GigaFiber, a combo service of broadband, TV and fixed landline.

Another one likely is on the new Jio Phone 3 model. Details of Jio phone 3 will also be watched keenly. Jio’s earlier phone models have been big success.

Besides, there are also talks of Ambani announcing the group's plans for Jio e-commerce.

Markets are keenly awaiting for details of both—service of JioGigaFiber and Jio Phone 3—at the AGM today.

At the 41st AGM last year, the broadband service, JioGigaFiber broadband was launched. JioGigaFiber would provide ultra high-definition entertainment on large screen TVs, multi-party video conferencing from a living room, voice-activated virtual assistance, virtual reality gaming, digital shopping and immersive experiences. Subscribers can avail of its Preview Offer for a security deposit of Rs 4,500 or Rs 2,500, depending on the speeds one opts for.

 RIL AGM 2019 Updates: Reliance Industries aims to become zero net-debt company in next 18 months: Mukesh Ambani

Mukesh Ambani, Chairman, Reliance Industries. News18

At the 41st AGM, Reliance Industries Chairman and Managing Director Mukesh Ambani had said that "The company has already invested more than $250 million in the industry. We will now extend the service to 1,100 cities to offer the most advanced fibre-based broadband services. This will mean a faster internet experience. A virtual reality experience for all citizens where you can control switches in your house from outside as well. This will redefine 24x7 emergency help for all homes across India. We are calling this the JioGigaFibre."

In fact, JioGigaFiber has already been launched in select markets across the country. It currently offers fibre-to-the-home (FTTH) broadband connections with 1.1TB (terabytes) of free data at a speed of 100 mbps.

During the June quarter, the Average Revenue per user (ARPU) for Reliance Jio—which unleashed one of the most brutal price wars in India's telecom market—was at Rs 122 per subscriber per month. This is, however, lower than ARPU of Rs 126.2 per subscriber per month seen in the March quarter.

As per the latest data released by TRAI, Vodafone Idea—born last year from the merger of older operators Vodafone India and Idea Cellular—continues to be the largest operator with 38.75 crore consumers and 33.36 percent market share in the wireless segment as on 31 May 2019.

Reliance Jio added 81.80 lakh new subscribers (on a net basis) in May and ended the month with 27.80 percent market share and 32.29 crore subscribers.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd which publishes Firstpost

Updated Date: Aug 12, 2019 12:51:45 IST