All the key takeaways from Reliance AGM meeting

Reliance held its 46th Annual General Meet (AGM) on the 28th of August 2023 through video conferencing.

Reliance AGM meeting today - Here are the updates

The entire conference was live-streamed and many topics were discussed during the meeting including the launch of Reliance’s new Jio Smart Home Service and Jio True5G Developer Platform.

During the AGM it was also announced that Isha Ambani, Akash Ambani, and Anant Ambani would be given the role of Non-Executive Directors for the RIL board. At the same time, it was announced that Nita Ambani would resign from the Board, but would continue being the Chairperson for the Reliance Foundation.

Here are a few key takeaways from the AGM -

Before the meeting had begun Reliance Industries shares had risen by 0.5%.
Isha Ambani was appointed as the director of the Retail and Jio platforms and Akash Ambani as the chairman of Jio
RIL has 3.9 Lakh employees on-roll (as of now)
Jio Fiber will be launched on 19th September on the day of Ganesh Chaturthi, it is estimated to provide 150,000 connections a day.
On Retail stores Isha Amabani said, “We opened 3,300+ new stores last year, taking the total to 18,040, covering 6.56 cr sq. ft. Two-thirds of these stores are in Tier II, III, and smaller towns, which is a testament to the commitment of making retail inclusive”
RIL will focus on delivering integrated, end-to-end solar photovoltaic cells for Dhirubhai Ambani Green Energy Giga manufacturing Complex At Jamnagar
Jio platforms will work on creating India-based AI models and AI solutions on multiple domains.
Jio Financial Services is set to enter the insurance sector with global partners