RIL to hold its 44th annual general meeting on August 29
Reliance Industries (RIL), the largest listed Indian company, will hold its 44th annual general meeting (AGM) on Monday, August 29, and Dalal Street will be keenly watching it for cues on the future roadmap of the company.
According to a report, Reliance's AGM can be a mixed bag for investors as Chairman Mukesh Ambani is unlikely to spill the beans on demerger plans.
The company is likely to remain tight-lipped on the demerger of its businesses but may share details over the succession plan, roles of next-generation Ambanis and 5G rollout at its AGM.
The company is unlikely to provide a timeline for the demerger or the initial public offering (IPO) of its two entities Reliance Jio and Reliance Retail, report indicated.
Reports of IPOs of RIL's retail and telecom business have been making rounds and it was speculated that Ambani could provide a clear roadmap over the disintegration of the conglomerate to unlock value.
That said, Ambani is expected to provide an update on the succession plan of the company. He can give clarity on the roles of his children -- Akash Ambani, Isha Ambani and Anant Ambani in Reliance Jio, Reliance Retail and Reliance's new energy vertical.
India's second richest man recently said that it is time for elders to pave way for the younger ones. Following this, Akash Ambani was appointed as the chairperson of Reliance Jio.
The company is going all guns blazing on its new energy vertical with multiple acquisitions and planned capital expenditure of Rs 70,000 crore over the next few years.
Reliance is also likely to provide an update on 5G rollout, whose auction was recently concluded. The telecom major would be aiming to build an ingenious 5G network throughout the country, the channel reported.
The company is also expected to provide an update on its much-awaited handset device as it had roped in Google as a stakeholder for Jio Infocomm.