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What is good for India is good for Reliance, says Mukesh Ambani; read RIL Chairman's full letter to shareholders

Economic Times

Economic Times · 2m ago

What is good for India is good for Reliance, says Mukesh Ambani; read RIL Chairman's full letter to shareholders

Mukesh Ambani, Chairman of Reliance Industries, highlighted the company’s evolution into a globally admired enterprise that embodies India’s entrepreneurial spirit in a letter to shareholders. He emphasized Reliance's commitment to integrating next-generation technologies across its diverse portfolio, including energy, retail, and digital services. Ambani lauded India’s economic resilience and emphasized Reliance’s role as a technology-driven enabler of inclusive growth. Despite global challenges, Reliance achieved robust financial performance and expansion, marking its commitment to innovation and national progress.

Related News

Reliance AGM 2024 Live Updates: Mukesh Ambani’s speech at RIL AGM in focus

Livemint

Livemint · 1y ago

Reliance AGM 2024 Live Updates: Mukesh Ambani’s speech at RIL AGM in focus

Reliance Industries Limited (RIL) is holding its annual general meeting (AGM) today, where Chairman Mukesh Ambani is expected to make key announcements. This includes providing a timeline for the listing of Reliance Retail and Reliance Jio Initial Public Offerings (IPOs). The AGM, attended by 3.5 million shareholders, is set for August 29, 2024, starting at 2:00 PM.

Mukesh Ambani's wife Nita Ambani resigns from Reliance Industries board

IndianStartupNews

IndianStartupNews · 2y ago

Mukesh Ambani's wife Nita Ambani resigns from Reliance Industries board

Nita Ambani, the wife of billionaire Mukesh Ambani, has resigned from the board of Reliance Industries to focus more on the Reliance Foundation. In her place, Isha Ambani, Akash Ambani, and Anant Ambani will be appointed as non-executive directors of the company. Nita Ambani's leadership of Reliance Foundation was acknowledged by the board, and she will continue attending RIL board meetings as a permanent invitee. The Ambani children have been actively involved in and leading various RIL businesses and subsidiaries.

RIL AGM today: Timing, when and where to watch livestream and more details | Mint

Livemint

Livemint · 1y ago

RIL AGM today: Timing, when and where to watch livestream and more details | Mint

Reliance Industries (RIL) will hold its 47th Annual General Meeting (AGM) virtually today, August 29. RIL Chairman, Mukesh Ambani, is expected to address shareholders and outline the company's achievements, future strategies, and potentially unveil major initiatives. The AGM will determine shareholder eligibility for the FY24 dividend, if declared, and is generating significant interest among investors and industry analysts. The event will be live-streamed on various platforms, including JioMeet, YouTube, Facebook, and Twitter. Market expectations include potential announcements regarding Reliance Jio IPO and Reliance Retail IPO.

New Energy Business and emphasis on technology were key themes of Ambani’s speech

Money Control

Money Control · 1y ago

New Energy Business and emphasis on technology were key themes of Ambani’s speech

Reliance Industries (RIL) announced a 1:1 bonus issue at their 47th annual general meeting (AGM) to reward shareholders. The company's Chairman, Mukesh Ambani, outlined RIL's roadmap for future growth. Key elements include plans for the new energy business, a focus on scale for all RIL units, and the transformation of RIL into a "Deep Tech and advanced manufacturing company" through the use of Artificial Intelligence (AI) across businesses. Ambani set ambitious targets for the new energy business and highlighted RIL's plans to establish large-scale manufacturing facilities for solar PV modules, battery energy storage systems, and an AI-ready data center. Ambani also expressed confidence in doubling RIL's market cap and meeting their target of being among the world's top 50 most valuable corporations by 2022.

SC dismisses Sebi’s ₹25 crore penalty plea against Mukesh Ambani in RPL share manipulation case | Company Business News

Livemint

Livemint · 11m ago

SC dismisses Sebi’s ₹25 crore penalty plea against Mukesh Ambani in RPL share manipulation case | Company Business News

The Supreme Court has dismissed the plea by the Securities and Exchange Board of India (Sebi) to impose a ₹25 crore penalty on Mukesh Ambani, Chairman of Reliance Industries Ltd (RIL), for alleged share manipulation in 2007 involving Reliance Petroleum Ltd (RPL). The court ruled that there was no question of law raised in the case. While Sebi's broader case against RIL will be heard on 2 December, the court declined to hold Ambani personally accountable for the alleged actions. The Securities Appellate Tribunal's decision to overturn penalties on RIL, Ambani, Navi Mumbai SEZ, and Mumbai SEZ was upheld by the Supreme Court.

Nita Ambani likely to Chair Reliance-Disney India media merger, says report

Livemint

Livemint · 1y ago

Nita Ambani likely to Chair Reliance-Disney India media merger, says report

Nita Ambani, spouse of Mukesh Ambani, is set to become the chair of the board following the merger of Reliance Industries and Disney's Indian media assets. The merger deal, which has been in the works for months, is expected to be finalized soon. Nita Ambani recently stepped down from the RIL board, signaling a shift towards charitable endeavors. The merger will strengthen Reliance's position in India's media and entertainment market, with Reliance expected to secure a majority stake in the merged entity. James Murdoch and Uday Shankar's joint venture will acquire a 9% stake.

Reliance announces plans to set up new school led by Isha Ambani. Know more

Livemint

Livemint · 2y ago

Reliance announces plans to set up new school led by Isha Ambani. Know more

Nita Ambani expressed excitement about the upcoming Nita Mukesh Ambani Junior School, focusing on a forward-looking educational approach with Indian values. She mentioned that the flagship Dhirubhai Ambani International School continues to excel. Nita Ambani resigned to make way for her children in Reliance. Isha, Akash, and Anant Ambani were appointed as non-executive directors, previously being involved at the operational level. They have been leading and managing key businesses within RIL, including retail, digital services, energy, and materials. Nita's resignation aims to focus on guiding Reliance Foundation's impactful work.

Jio Platforms set for market debut in first half of next year, says RIL Chairman Mukesh Ambani

Economic Times

Economic Times · 1m ago

Jio Platforms set for market debut in first half of next year, says RIL Chairman Mukesh Ambani

Reliance Industries plans to list Jio Platforms in the first half of 2026, potentially valuing it between $134-146 billion. Chairman Mukesh Ambani announced this during the annual general meeting, highlighting its impact on the telecom industry with over 500 million subscribers. The IPO aims to provide exits for global investors, significantly higher than their initial commitments. Additionally, RIL is forming partnerships with tech giants like Google and Meta to develop AI and cloud solutions.

No salary for Mukesh Ambani's children, only fee for attending board meets

Livemint

Livemint · 2y ago

No salary for Mukesh Ambani's children, only fee for attending board meets

Reliance Industries Ltd (RIL) has announced that the children of billionaire Mukesh Ambani, Akash, Isha, and Anant, will not receive a salary from the company. However, they will be eligible for a fee for attending board and committee meetings. Shareholder approval is being sought for their appointment as board members. While Ambani himself draws no salary, his children will receive a sitting fee and a commission on the company's profits. The resolution also states that they will be reimbursed for meeting-related expenses.

Mukesh Ambani's Reliance Industries to spin off FMCG brands into new arm ahead of mega IPO plans

Economic Times

Economic Times · 3m ago

Mukesh Ambani's Reliance Industries to spin off FMCG brands into new arm ahead of mega IPO plans

Reliance Industries Ltd (RIL), led by Mukesh Ambani, plans to restructure its fast-moving consumer goods (FMCG) brands by consolidating them into a new company, New Reliance Consumer Products Ltd. This move aims to provide specialized focus and attract segment-specific investors ahead of potential IPOs in retail and telecom sectors. The restructuring aligns with RIL's strategy to manage and expand its consumer brands business, which demands significant capital and distinct management from its retail arm.

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