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<ul><li>Mukesh Ambani announced that he plans to connect 1 billion devices using Jio’s IoT network that’s going to launch on 1 January, 2020.</li><li>For Reliance Jio, it will bring ₹20,000 crore revenue stream.</li><li>But the bulk of IoT will be driven by industrial applications rather than consumer devices like smart bulbs or air conditioners. </li></ul>Mukesh Ambani, chairman of Reliance Industries, estimates that India will have at least 2 billion connected devices over the next two years. And, the company’s telecom arm — Reliance Jio — plans to power at least half of them to hone in on the ₹20,000 crore revenue opportunity. Jio’s IoT network will be a Narrowband Internet of Things (NBIoT) based on the company’s 4G network. The aim is to ensure that data gets from point A to point B in the most reliable way at the lowest possible cost once it launched on 1 January, 2020. Ambani cited the example of India’s 300 million electricity meters that needs to be connected digitally for real-time monitoring. “Having up to date data by the minute can help consumers have full visibility and control over the cost and quality,” according to Ambani during the <a href="https://www.businessinsider.in/highlights-of-mukesh-ambani-speech-at-reliance-industries-agm/articleshow/70638299.cms">Reliance Industries Annual General Meeting.</a> Just as Jio will be <a href="https://www.businessinsider.in/reliance-jio-fired-up-as-mukesh-ambani-joins-hands-with-satya-nadellas-microsoft-to-challenge-jeff-bezos-in-india/articleshow/70641754.cms">threatening Jeff Bezos’ Amazon Web Services (AWS)</a> as it partners with Microsoft to bring cloud computing to small and medium businesses, it will also challenging Amazon when it comes to IoT. It’s not about your light bulb at home IoT is not all about smart bulbs or air conditioners. In reality, a lot of the communication that happens over IoT is between machines. In fact, 50% of IoT spending will be driven by enterprise capabilities like manufacturing, transportation, logistics and utilities rather than consumer facing applications, according to <a href="https://www2.deloitte.com/content/dam/Deloitte/in/Documents/manufacturing/in-mfg-harnessing-the-power-noexp.pdf">Deloitte</a>. The reason these sectors will primarily push growth is because of their direct association with smart city projects and the Indian governments $1 billion investment to set up a 100 smart cities in the country, according to the World Bank. In a smart city, typical IoT applications would help manage energy usage, monitor traffic, deliver better public services and even lower the level of pollution. From the current 60 million IoT devices currently functioning in the country, Deloitte estimates that 32 times more devices — 1.9 billion — will be online by 2020. As a result, the market will also expand from $1.3 billion to $9 billion. According to an IDC report, half of the businesses in India see IoT as a requirement for staying digitally fit and 60% believe it's essential to keeping a competitive advantage. While the potential of IoT is huge — it’s not without its challenges. The transfer of data over connected devices brings with concerns of reliability and privacy. To help with this, the Open Connectivity Foundation recently opening a local chapter in India to help create awareness about global IoT standards. Even so, it’s important for India to have its own regulations in place so that liability and responsibility can be assessed accordingly in the event of a data breach or cyber attack. See also: <a href="https://www.businessinsider.in/reliance-jio-gigafiber-launch-heres-what-it-will-offer-consumers/articleshow/70630655.cms">Reliance Jio Gigafiber launch – Mukesh Ambani’s trump card on the Indian internet space</a> <a href="https://www.businessinsider.in/reliance-jio-fired-up-as-mukesh-ambani-joins-hands-with-satya-nadellas-microsoft-to-challenge-jeff-bezos-in-india/articleshow/70641754.cms">Reliance Jio fired up as Mukesh Ambani joins hands with Satya Nadella’s Microsoft to challenge Jeff Bezos in India</a> <a href="https://www.businessinsider.in/highlights-of-mukesh-ambani-speech-at-reliance-industries-agm/articleshow/70638299.cms">Highlights of Mukesh Ambani's speech at Reliance Industries AGM and live updates</a>

Mukesh Ambani plans to connect a billion devices on his IoT platform — and he isn't only talking about light bulbs

“With the advanced internet infrastructure built by Jio, and a robust physical retail built by Reliance Retail, we will create a differentiated e-commerce model for India. This model will see seamless integration of online and offline while innovating across superior customer experience, delivery services and payment ecosystem.” 
 
When India’s biggest taxpayer in the Private Sector says this, eyes turn, jaws drop and calculators click into action. As of now Amazon, Snapdeal and Flipkart have been market leaders in the Indian e-commerce labyrinth. Reliance with its multi-channel integrated e-commerce strategy dares to challenge that. After all, nobody in India has that kind of a reach or money power. 
 
The end of year would see the launch of Reliance Trends website, and with the Jio service available in around 18,000 cities and towns, payment gateways and wallets would be accessible on smartphones. 
 
That’s all cool, but are the Ambanis catching up a little too late now that the Flipkarts are off to a flying start with overseas investors pouring in serious moolah? 
 
Experts beg to differ. “Reliance is in a far stronger position to retain the interests of the consumers in terms of the products and services they offer”, Arvind Singhal, Chairman, Technopak says. 
 
There have also been concerns that the Ambanis with their 3 quarters of a billion dollars investment might squelch the lower rung for good. After all, how do you compete with a giant that claims to have grown 30% in the last 5 years and sprouts 5 new stores every 2 days that sell 1, 50, 000 garments per day on an average? 
 
“Reliance will further expand the market for e-commerce and create new opportunities in the country. It will not kill the small players unless they’re looking to set up online marketplaces as well. In the current scenario there is no shortage of funding even for the smaller players”, Singhal says. 
 
The seeds of e-commerce have just been sown in the country’s fertile ground of $550 billion. While most players have bought chips worth a couple of billion dollars, there is no doubt Reliance would be a formidable player when the wheel spins. 
 
(Image credit: Indiatimes)

How Ambani’s Reliance can shake up e-commerce
in India

<ul><li>Reliance will use <keyword id="691847" type="PERSON" weightage="20" keywordseo="Google-Cloud">Google Cloud</keyword> to power Jio’s 5G services, after announcing a co-developed Android smartphone, the JioPhone Next.</li><li>As part of this collaboration, Reliance will also move some of its core businesses like <keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword>, JioMart among others to Google Cloud.</li><li>The announcement was made by <keyword id="164502" type="PERSON" weightage="20" keywordseo="Sundar-Pichai">Sundar Pichai</keyword> and <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> during <keyword id="6355199" type="COMPANY" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword>’ annual general meeting.</li></ul>Mukesh Ambani-led Reliance Jio and tech giant Google have come together to power the telecom giant’s 5G telecom services. This comes after both the companies co-developed the JioPhone Next, the first Android smartphone from the Indian telecom giant. At the Reliance Industries’ annual general meeting (AGM) today, June 24, Google’s Chief Executive Officer (CEO) Sundar Pichai announced that the two companies are taking their collaboration further with a new 5G partnership. <div type="Article" hostid="261" msid="83806398" title="Reliance announces JioPhone Next smartphone in partnership with Google – available from September 10" mstype="2" mssubtype="0"></div> This, Pichai said, will “allow users to connect to a faster internet, support businesses in their digital transformation, and help Jio build new services in sectors like healthcare, education, and more.” <cmsannotation type="cmsannotation" annotationid="Reliance to shift its core retail businesses to Google Cloud" comment="subhead" text="Reliance to shift its core retail businesses to Google Cloud">Reliance to shift its core retail businesses to Google Cloud</cmsannotation> Pichai made another important announcement, stating that Reliance will move its retail businesses to Google Cloud, in what will be a major win for the company against its rivals Microsoft and Amazon, who offer cloud infrastructure, too. Reliance Industries’ Chairman Mukesh Ambani said that the company will use Google Cloud to “power Jio’s 5G solutions and Reliance’s key businesses like Reliance Retail, JioMart, JioSaavn, JioHealth, and more. SEE ALSO: <a href="https://www.businessinsider.in/business/news/rils-mukesh-ambani-addresses-shareholders-at-agm/articleshow/83806120.cms">Reliance Industries’ AGM — Mukesh Ambani officially announces Saudi Aramco as strategic partner</a> <a href="https://www.businessinsider.in/tech/mobile/news/jiophone-next-smartphone-announced-check-out-features-launch-date/articleshow/83806398.cms">Reliance announces JioPhone Next smartphone in partnership with Google – available from September 10</a>

Jio and Google come together for 5G, leveraging Google’s cloud expertise and Jio’s networking prowess

The recent Reliance AGM saw Mr. Ambani announce that the new Fresh Direct website would be ‘scaled up’, and that the company’s retail sector has seen a whopping 30-50% growth. 
 Reliance Fresh and <keyword id="2900459" type="UNKNOWN" weightage="80" keywordseo="reliance-fresh-direct-website">Reliance Fresh Direct website</keyword> has been plagued with problems like sourcing and storage issues. With it comes the added burden of logistics and freshness issues. That however hasn’t stopped many a brave e-commerce retailer to enter grocery retail. 
 
“Food and grocery is the single biggest opportunity in Indian e-commerce today. It’s just a question of tactical execution”, Arvind Singhal, Chairman at Technopak says. 
 
Should other players like BigBasket and LocalBanya be worried about Reliance’s grand plans? 
 
“There is a $370 billion market out there and a lot of headroom for everybody to grow at this moment”, Singhal says. 
 
With the focus increasingly shifting from brick and mortar to grocery retail, many believe it’s high time for the Birla and Future Group to join the party as well. After all, why should they not get a slice of the pie? 
 
(Image credit: Indiatimes)

Does
Reliance Fresh Direct spell disaster for other grocery e-tail?

<ul><li><keyword id="3591294" type="PERSON" weightage="20" keywordseo="Anmol-Ambani">Anmol Ambani</keyword> has been a part of the board of Reliance Capital since 2016. </li><li>Anmol graduated from Warwick Business School. </li><li>Anshul is 24 years old has joined the group in January this year. </li><li>He is an undergraduate from the New York’s Stern School of Business. </li></ul>After Mukesh Ambani’s twins Isha and Akash demonstrated high-end 4G services at Reliance Industries’ annual general meeting, yet another generation of Ambanis are making their way into business. Anil Dhirubhai Group company, <keyword id="6375349" type="DOMAIN" weightage="20" keywordseo="Reliance-Infrastructure">Reliance Infrastructure</keyword> has inducted both his sons—Anmol and Anshul into the board on October 9. <div type="Slideshow" msid="71514558" hostid="261" title="Meet the new generation of Ambanis — Isha, Akash, Anant, Anshul and Anmol" firstImageMsid="71514641" slideCount="5"></div>

Meet the new generation of Ambanis — Isha, Akash, Anant, Anshul and Anmol

<ul><li> JioMeet has seen 5 million downloads within days of its launch.</li><li>Reliance Industries earlier this week launched JioMeet video conferencing app with unlimited free calling, which is being seen as rate war on rival Zoom. </li><li>JioMeet video conferencing app is available across Android, iOS, Windows, macOS and web. </li></ul> Indian businessman <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> on Wednesday said India's first cloud-based video conferencing app JioMeet has seen 5 million downloads within days of its launch. Reliance Industries earlier this week launched JioMeet video conferencing app with unlimited free calling, which is being seen as rate war on rival Zoom. JioMeet video conferencing app is available across Android, iOS, Windows, macOS and web. Addressing the company's 43rd annual general meeting, Ambani said JioMeet has seen 5 million downloads by users within days of its launch. According to the company website, JioMeet supports HD audio and video call quality with up to 100 participants and offers features like screen sharing, and meeting schedule feature, among others. But unlike Zoom, it does not impose a 40-minute time limit. Calls can go on as long as 24 hours, and all meetings are encrypted and password-protected, the company said. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/checkout-mukesh-ambani-reliance-industries-annual-general-meeting-highlights/articleshow/76976243.cms">Reliance and Google will build a new Android-based operating system for smartphones in India</a> <a href="https://www.businessinsider.in/tech/news/jio-glass-akash-ambani-and-isha-ambani-announce-reliances-latest-product-which-offers-holographic-video-calls/articleshow/76977640.cms">Reliance to spin off its Oil-to-Chemicals business for new partnerships – Mukesh Ambani says Saudi Aramco deal is still in the works</a> <a href="https://www.businessinsider.in/business/news/google-picks-up-a-7-7-stake-in-mukesh-ambani-jio-for-33737-crore/articleshow/76977043.cms">Google picks up a 7.7% stake for ₹33,737 crore in Reliance Jio</a> <a href="https://www.businessinsider.in/tech/news/jio-glass-akash-ambani-and-isha-ambani-announce-reliances-latest-product-which-offers-holographic-video-calls/articleshow/76977640.cms">Jio Glass – Akash Ambani and Isha Ambani announce Reliance’s latest product which offers holographic video calls</a>

JioMeet sees 5 million downloands within days of launch: Ambani

Mumbai, Jul 15 () Richest Indian Mukesh Ambani on Wednesday said his group's retail venture has received strong interest from strategic and financial investors. "We will induct global partners and investors in Reliance Retail in the next few quarters," he said at Reliance Industries annual general meeting. Reliance Retail has already started pilots of its ecommerce venture. "We have successfully piloted JioMart grocery model with kirana partners. The beta version of JioMart grocery platform is being piloted in 200 cities. Daily orders have crossed 2.5 lakh, and the number is growing each day," Ambani said. Connecting farmers and delivering their fresh produce directly to homes is a key part of the firm's grocery strategy. "This will significantly improve farmer income and incentivise higher productivity," he said. More than two-thirds of Reliance Retails' nearly 12,000 stores are operated in Tier II, Tier III and Tier IV towns. "It sources over 80 per cent of fruits and vegetable directly from farmers," he said. ANZ BAL

Ambani says received strong interest from strategic investors for Reliance Retail

When <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> announced the tariff plans of his <keyword id="6354504" type="UNKNOWN" weightage="100" keywordseo="Reliance-Jio">Reliance Jio</keyword>, he started a sort of pricing war in the telecom sector. 
 
Ambani disrupted the sector by offering 1GB data for just Rs 50, when other operators charge at least Rs 250 for the same. 
 
He also announced free voice calls from Reliance Jio to any operator, also asking other operators not to disrupt the common touch point. 
 The string of announcements made during the Reliance Annual General Meeting (AGM) tanked <keyword id="15492" type="CITY" weightage="100" keywordseo="Vodafone">Vodafone</keyword> and Idea’s shares. 
 However, <keyword id="15491" type="COMPANY" weightage="20" keywordseo="Airtel">Airtel</keyword>, Vodafone and Idea will be battling it out with more lucrative offerings. 
 
Rajan Mathews, director-general of GSM industry body Cellular Operators Association of India, told ET the incumbents could match Jio's launch offerings. 
 "The battle lines have now been clearly drawn. You have Jio with <keyword id="46907" type="CITY" weightage="20" keywordseo="Reliance-communications">Reliance Communications</keyword>, Aircel and MTS on one side and Bharti, Vodafone and <keyword id="6354924" type="PERSON" weightage="20" keywordseo="Idea-Cellular">Idea Cellular</keyword> on the other," he said. 
 
It also noteworthy that the telecom industry in under Rs 35,000 crore of debt and with the airwave auction coming up, the debt is going to go up. 
 
"Jio's launch has been one of the key worries we have had for the last couple of years, and this is turning out to be quite negative. We continue to stay cautious," Credit Suisse said. 
 
The consumers are going to benefit from the pricing war but it is yet to see how sustainable the model is.

Reliance Jio has triggered tariff battle; Idea, Vodafone to strike back with attractive pricing

<ul><li><keyword id="8372" type="General" weightage="100" keywordseo="akash" source="Orion">Akash</keyword> <keyword id="10924" type="General" weightage="80" keywordseo="ambani" source="Orion">Ambani</keyword> is the elder son of one of India’s richest businessmen Mukesh Ambani; and the only Indian to debut on Time Magazine’s Next 100 List. </li><li>During the 2022 Reliance Industries’ annual general meeting, he announced the launch of Jiofibre and virtual PCs. </li><li>Akash Ambani will head India’s largest telecom operator and is one of the heirs of <keyword id="3820" type="General" weightage="50" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>’s<a href="https://www.bloomberg.com/billionaires/profiles/mukesh-d-ambani/"> $80.5 billion empire</a>. </li></ul>He may have become the new boss of <keyword id="6354504" type="General" weightage="50" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> – India’s largest telecom operator – recently, but Akash Ambani has been prepping for the top job from birth. As the grandson of <keyword id="6418409" type="General" weightage="50" keywordseo="dhirubhai-ambani" source="Orion">Dhirubhai Ambani</keyword> and son of Mukesh Ambani, the Junior Ambani has always had big shoes to fill, but he seems to be stepping into them quite effortlessly. He is also keeping the family tradition of breaking into lists by becoming the only Indian to enter the Time Magazine’s Next 100 list. Time’s Next 100 list essentially puts the spotlight on emerging leaders who are shaping the world of business, sports, finance, entertainment, politics, science, health, and activism. The list also features the likes of American singer SZA, actress Sydney Sweeney, basketball player Ja Morant, Spanish tennis player Carlos Alcaraz, actor and television personality <keyword id="945810" type="General" weightage="50" keywordseo="keke-palmer" source="Orion">Keke Palmer</keyword>, and environment activist Farwiza Farhan. Not surprisingly, the scion of the Ambani family has made it as an A-lister, given the mantle he holds as the Chairman of Reliance <keyword id="2003276" type="General" weightage="50" keywordseo="jio" source="Orion">Jio</keyword> with 426 million users. One of the heirs of <a href="https://www.bloomberg.com/billionaires/profiles/mukesh-d-ambani/">Mukesh Ambani’s $80.5 billion empire</a>, the 30-year-old has his work cut out, as the company looks to launch 5G services later this year. Akash is married to <keyword id="6296629" type="General" weightage="50" keywordseo="shloka-mehta" source="Orion">Shloka Mehta</keyword>, who hails from one of the richest diamond families of India. The Ambani family welcomed their first grandchild, <keyword id="10488859" type="General" weightage="50" keywordseo="prithvi-ambani" source="Orion">Prithvi Ambani</keyword>, in 2020. Reliance Jio has been touted as one of the fastest growing companies in the world and Akash has reportedly played a key role in bringing marquee investors and global giants like Facebook, Catterton, Silver Lake and General Atlantic to the company. Akash Ambani’s journey of becoming one of the most influential next-gen leaders began only four years ago, when he gave his first public address at the India Digital Open Summit. “Our chairman believes India is on a path to be a technology innovation leader and technology superpower. We are fortunate to be living in India, where we have a vision for Digital India. At Jio we believe AR/VR will grow at 50% CAGR for next 5 years,” said Akash Ambani, who was 26 years old at the time. On June 27 2022, Reliance Chairman Mukesh Ambani handed over the reins of the empire to his eldest son <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambani-steps-down-as-director-of-reliance-jio-akash-ambani-appointed-chairman/articleshow/92521472.cms">Akash Ambani</a>. Referring to the next generation Ambanis — Isha, Akash and Anant — Mukesh Ambani said at the company’s 45th annual general meeting, “All three have fully inherited our founder's mindset. They are first among equals in a young team of leaders and professionals who are already doing amazing things at Reliance.” Akash Ambani’s ambitious plan to launch virtual PCs in India Reliance Jio Infocomm (RJIL), a subsidiary of RIL, is the largest telecom operator in India. From less than 700 professionals a few years ago, the RJIL team has grown rapidly to over 10,000 professionals today. “With 5G being rolled out in India, the current 800 million connected internet devices will double to 1.5 billion connected internet devices in just a year,” said Akash Ambani at the latest annual general meeting. The 30-year-old also announced the launch of ‘<a href="https://www.businessinsider.in/tech/enterprise/news/jio-airfiber-to-offer-cloud-pc-services-soon/articleshow/93857295.cms">virtual PC</a>’ through the launch of Jio AirFiber giving a boost to AI-enabled services in India. “5G gives ultra-high fibre-like speed over the air without any wires. We are calling it JioAirFiber. With JioAirFiber, it will be really easy to quickly connect your home or office to Gigabit-speed Internet,” he said. Investing ₹2 lakh crore, the next-generation Ambani will also head the implementation of 5G services in India – the latest version called standalone 5G sans dependence on 4G network. Challenges for Ambani junior while heading Reliance Reliance Jio offers its services at affordable tariffs, a dream that the founder of Reliance Industries had of offering telecom services at the rate of a postcard. While Akash Ambani’s father delivered on that promise, the 30-year old scion will have his job cut out as the company looks to launch its ambitious 5G services this Diwali. The company faces competition from the Sunil Mittal-helmed Airtel. Interestingly, Airtel is a professionally run company and both of Mittal’s sons pursue their own business interests. An avid sports nut Apart from heading the most ambitious projects in the world, Akash is known to have a keen interest in sports and premium cars. Akash’s first public appearance was at a Mumbai Indians cricket match as the company bought the team <a href="https://www.republicworld.com/sports-news/cricket-news/ipl-mega-auction-which-teams-were-sold-in-the-2008-inaugural-edition-and-at-what-prices.html">for $111.9 million back in 2008</a>. He is an avid cricket fan and can be seen regularly leading auctions to filter through the players for the Mumbai Indians IPL league. Ambani Junior is also a fan of the Arsenal football club. In 2016, he got to play in his private football area with Arsenal’s former forward Thierry Henry. Alongside sports, Akash has a legion of premium cars like Bentley Bentayga, Range <keyword id="5160615" type="General" weightage="50" keywordseo="rover-vogue" source="Orion">Rover Vogue</keyword>, BMW 5-Series, Lamborghini Urus, Rolls Royce Phantom Drophead Coupe and Maybach 62 to list a few. The passion for fancy wheels comes from both his parents. The road to living up to the name of “industry royalist” is long but Akash Ambani’s blueprint for Reliance is being closely watched by the world. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/9-in-10-indian-leaders-question-employees-productivity-in-hybrid-work/articleshow/94529650.cms">9 in 10 Indian leaders question employees' productivity in hybrid work</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-greens-54-rally-tempts-totalenergies-to-book-profits/articleshow/94529227.cms">Adani Green’s 54% rally this year tempts TotalEnergies to book profits</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/people-want-bigger-homes-and-reopening-offices-schools-hasnt-altered-this-trend/articleshow/94512938.cms">People want bigger homes and reopening offices, schools hasn’t altered this trend</a>

Akash Ambani’s keeping up the family tradition of breaking into global lists

<ul><li>Reliance Capital said that it repaid as much as ₹72.6 crore in loans. </li><li>RCap is holding its annual general meeting today. </li><li>The company’s stock dropped by 13% today to trade at ₹24 per share. </li><li>The total debt of RCap stands at ₹46,000 crore. </li></ul> On the day of its annual general meeting, <keyword id="9171" type="PERSON" weightage="20" keywordseo="Anil-Ambani">Anil Ambani</keyword>’s company Reliance Capital said that it repaid as much as ₹72.6 crore on September 27 and 30. This amount includes the payment the company has made in both interest and principal. “This is across a range of instruments including non-convertible debentures, term loans and inter-corporate deposits. The company is current on all its repayment obligations,” the company told the stock exchanges today. The total debt of RCap <a href="http://businesstoday.in/current/corporate/japan-nippon-completes-acquisition-of-75-stake-anil-ambani-rnam/story/381767.html">stands at </a>₹46,400 crore. The company’s stock dropped by 13% today to trade at ₹24 per share as of 12:26 pm. On Friday (September 27), the Anil Dhirubhai Ambani Group company said that it completed the sale of its 21.5% stake in Reliance Nippon Life Asset Management for ₹3,030 crore or for $430 million. “Based on the above, and other asset monetisation deals presently underway, Reliance Capital expects to reduce its debt by at least ₹12,000 crore ($ 1.7 billion) or 70%, in the current financial year,” the company said in a statement on Friday. As it closes the Nippon transaction, Reliance Capital said that it old entire stake in its wholly owned subsidiaries like Reliance Capital Trustee and Reliance Capital AIF Trustee. All of Anil Dhirubhai Ambani Group companies like Reliance Capital, Reliance Infrastructure, Reliance Power, Reliance Home Finance and Reliance Communications are holding their annual general meetings today. The shareholders of RCom which is currently undergoing bankruptcy proceedings will be presided by a debt resolution professional.

Anil Ambani’s Reliance Capital repays ₹72.6 crore loans; stock tanks

There is growing concerns amidst shareholders over <keyword id="6355199" type="CITY" weightage="80" keywordseo="Reliance-Industries">Reliance Industries</keyword>’ investment in ventures such as media and telecom, especially over its recent gesture to give loans to media firm NDTV. Shareholders at the recent annual general meeting in Mumbai demanded to know the rationale behind such <keyword id="6362476" type="ORGANIZATION" weightage="40" keywordseo="investments">investments</keyword> and loans, according to a Press Trust of India (PTI) report. RIL shares, once the darling of the stock market, have languished in recent years as production from the KG-D6 gas fields fell and the government became increasingly reluctant to increase the price of commercial gas. In the last one year, they have fallen 4.6% compared with the benchmark Sensex's 10.8% gain. Moneylife magazine has revealed details of the loan to NDTV in an article which points out that an RIL affiliated arm Viswapradhan Commercial Pvt Ltd gave a loan of Rs 350 crore to promoters of NDTV through convertible warrants in 2009. These warrants give the lender, (Reliance or the Ambani family) the power to convert at any time during the tenure of the loan or thereafter into equity shares of the NDTV holding company. The two partners planned to find a buyer for NDTV for 3-5 years. Since the sale has not fructified, NDTV is effectively owned by the <keyword id="3820" type="PERSON" weightage="100" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> company, the article concludes. The PTI reported that at the annual general meeting shareholders were upset with Reliance' dividend policy even as it continues to make these unrelated investments. Chairman Mukesh Ambani assured shareholders that the company would reward investors with a combination of dividend, bonus and buyback once it completes its ongoing investment cycle. 

	But shareholders continued to raise questions over return on shares and the company's investment decisions. Ambani chose not to reply to the questions from shareholders as is the practice at AGMs, stating that the company will answer shareholders through direct correspondence. 
 

	Some shareholders demanded that the next dividend payout should at least be 150%, while some demanded bonus debentures in the interim as the share prices of RIL continued to be low when it ideally should be priced at around Rs 5,000 a piece, PTI reported. 
 
 

	A Reliance Industries spokesperson did not reply to an email questionnaire on the issue. 
 Some RIL investors also expressed concerns over continuing losses of its media arm - 17 news channels under Network18 and 14 GEC channels, along with their e-commerce and publishing arms. PTI reported that an investor questioned the rationale behind the company giving an interest free loan of Rs 350 crore to <keyword id="201527" type="COMPANY" weightage="100" keywordseo="NDTV-Group">NDTV Group</keyword> even as it already has these many channels and also queried about the fate of this investment. 
	 
	(image credits: )

Ambani silent even as situation becomes tense over Reliance’s investment in media firms

New Delhi, Jun 22 () After Tata Consultancy Services (TCS), Reliance Industries will hold its first virtual annual general meeting of shareholders on July 15 as public gatherings are not possible in view of the coronavirus pandemic. In a regulatory filing, Reliance - the country's most valuable company- said "the 43rd AGM will be held on Wednesday, July 15, 2020 at 2 pm though video conferencing / other audio-visual means." TCS held virtual annual general meeting (AGM) on June 11. Due to the outbreak of the COVID-19 pandemic, the Ministry of Corporate Affairs (MCA) has permitted to hold AGM through video conference / other audio visual means without the physical presence of members at a common venue. So far, all the post-IPO AGMs of Reliance have been physical meetings that have often been equated with big fat Indian weddings. The company that is widely credited with having launched the equity culture in India, held AGMs in stadiums during times of its founder Dhirubhai Ambani. In 1985, 12,000 of them attended the Reliance AGM at the Cooperage Football Ground in Mumbai's Colaba. The next year, around 35,000 attended it at the city's Cross Maidan. Over the years, the AGMs got shifted to auditoriums even as its shareholder base swelled to over 24 lakh. At the last AGM on August 12, 2019, the firm's billionaire chairman Mukesh Ambani announced a roadmap for Reliance to become a net-debt free company before March 31, 2021. "We have a very clear roadmap to becoming a zero net debt company within the next 18 months that is by March 31, 2021," he had said, highlighting strong interest from strategic and financial investors in consumer businesses, Jio and Reliance Retail. But the oil-to-telecom conglomerate achieved net-debt free status last week itself on the back of a record Rs 1.69 lakh crore fund raising from stake sales and rights issue. Reliance secured over Rs 1.15 lakh crore from global tech investors including Facebook by selling a little less than a quarter of its digital business and raised Rs 53,124 crore by selling shares to existing investors in the past 58 days. Taken together with last year's sale of 49 per cent stake in fuel retailing venture to BP Plc of UK for Rs 7,000 crore, the total fund raised is in excess of Rs 1.75 lakh crore, the company had said last week. Reliance had a net debt of Rs 1,61,035 crore as on March 31, 2020. "With these investments, RIL has become net-debt free," it had said. At the last AGM, Ambani had also announced plans to sell a USD 15 billion stake in his group's oil-to-chemical business to Saudi Arabian Oil Co but the deal has got slightly delayed. Not to be outdone by the delay, he lured partners to Jio Platforms Ltd, which houses India's biggest telecom firm by subscribers, Reliance Jio. With more than 388 million users, Jio has forced out several rivals and driven consolidation in the sector since entering the market in 2016 with free voice services and cut-price data. Sale of stake in Jio Platforms raised Rs 1,15,693.95 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton and PIF since April 22, 2020. Alongside, Reliance launched India's biggest right issue, which was subscribed 1.59 times. ANZ ANU ANU

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