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Reliance AGM 2022: From 5G, succession plan to green energy; here’s what to expect

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Mumbai, Aug 29: Mukesh Ambani-led Reliance Industries Ltd (RIL) will hold its 45th Annual General Meeting (AGM) virtually today at 2 pm through video conferencing. Reliance Chairman and Managing Director Mukesh Ambani will virtually address shareholders this afternoon in the immersive and interactive 3D world of metaverse, PTI said. It will become one of the first companies globally to conduct its annual general meeting (AGM) simultaneously on a virtual reality platform, while also live broadcasting it on five leading social media platforms, in addition to the official JioMeet broadcast.

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Powered by GMetri, the Reliance AGM virtual reality (VR) platform is designed for a user to virtually walk through a lounge, and explore business-wise highlights of the company's annual report 2021-22 in an interactive manner by entering and exiting different virtual rooms.

Reliance Chairman and Managing Director Mukesh Ambani

Following Centre's announcement of rollout of 5G services in the country, the companies timeline for the same is being looked forward to in this AGM and with it the launch of the JioPhone 5G. Succession of the company, future roadmap on green fuel, retail and telecom is also being expected in this year's edition of the AGM.

Reliance AGM 2022: Major announcements expectations

5G Services: After IT Minister Ashwini Vaishnaw announced commercial rollout of the first phase of 5G services in India, the company's blueprint for the same will be expected in today's meeting. For the first phase, 5G services will be made available in 12 cities across the country - Chandigarh, Gurugram, Mumbai, Gandhinagar, Ahmedabad, Jamnagar, Pune, Lucknow, Kolkata, Bengaluru, Hyderabad, Chennai.

JioPhone 5G: With the rollout of 5G services, the company may launch the JioPhone 5G smartphone which is expected to be priced under Rs 12,000. As per a report, the smartphone may cost between Rs 9,000 and 12,000. It is expected that the company also brings easy financing options with the device that could make it more affordable, similar to what we have seen it doing with the JioPhone Next in 2021.

Reliance AGM 2022 at 2 pm today: When and how to watch LIVEReliance AGM 2022 at 2 pm today: When and how to watch LIVE

Succession: With Mukesh Ambani's elder son Aakash already taking over as the Chairman of Reliance Infocomm Ltd and other two children, daughter Isha and son Anant, holding various directorships in the group's unlisted firms, the Reliance Industries Chairman is expected to make leadership announcements with stepped up involvement of his children and wife Nita Ambani, reported Mint.

Green energy: The RIL may announce revised targets to bring down the cost of green hydrogen after the Parliament passed the Energy Conservation (Amendment) Bill, 2022 this month. The Act proposed a mandatory threshold for consumption of green fuels such as green hydrogen, green ammonia, and biomass in all industries. Earlier the company had said that it would bring down the cost to $1 per kg, but the same could be advanced as Adani New Industries plan to invest over $50 billion (Rs 3.9 trillion) in the next 10 years in green hydrogen, as per a report by Business Standard.

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