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<ul><li><keyword id="19896380" type="General" weightage="20" keywordseo="reliance-industries" source="keywords">Reliance Industries</keyword> is expected to launch an IPO for <keyword id="6354504" type="General" weightage="20" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> in 2025.</li><li>Reliance Retail is expected to go public after <keyword id="19906886" type="General" weightage="20" keywordseo="jio" source="keywords">Jio</keyword>, with no date fixed yet.</li><li>The <keyword id="7784314" type="General" weightage="100" keywordseo="reliance-jio-ipo" source="Orion">Reliance Jio IPO</keyword> will emerge as the country’s biggest IPO, beating the Hyundai IPO.</li></ul>Mukesh Ambani-led Reliance Industries is reportedly gearing up to launch the initial public offering (IPO) of its telecom arm, Reliance Jio in 2025. The telco will join its competitors, Bharti Airtel and Vi, which are already public. According to a<a href="https://www.reuters.com/world/india/ambanis-reliance-jio-ipo-set-2025-retail-debut-much-later-sources-say-2024-11-04/"> report</a> by Reuters, Reliance Jio is expected to go public in 2025 and the IPO for the retail arm is planned later. As per two sources familiar with the matter, <keyword id="19916798" type="General" weightage="20" keywordseo="mukesh-ambani" source="keywords">Mukesh Ambani</keyword> plans on sticking to the timeline he mentioned in 2019, where he said he will “move towards” listing in five years. <div type="Article" hostid="261" msid="114931927" title="October auto sales – Maruti Suzuki and Tata Motors report a decline, Mahindra continues to grow" mstype="2" mssubtype="0"></div> The company has firmed up plans of taking the telecom arm public as it feels the company has achieved a stable business and revenue stream. Jio is currently the biggest telecom operator in India, with over 471 million subscribers as of August 2024. Reliance Industries has raised over $25 billion for the company’s digital, telecom and retail businesses from investors like KKR, Abu Dhabi Investment Authority, General Atlantic and more. <h2>Reliance <keyword id="6059106" type="General" weightage="20" keywordseo="jio-ipo" source="Orion">Jio IPO</keyword> to be India’s biggest</h2>Existing rules state that companies that are valued at ₹1 lakh crore or more need to sell at least 5% of total shares during an IPO. Jio is currently valued at $112 billion (₹9.42 lakh crore) as per Jefferies. A 5% stake sale would put the IPO at around ₹47,100 crore, beating the recently concluded IPO of Hyundai Motor India, which raised ₹27,870.16 crore. <h2>Retail IPO further away</h2>While no timeline has been mentioned, the retail arm’s IPO has reportedly been pushed further away, as the company feels it needs to address internal business and operational challenges. Not only this, the company reportedly wants to avoid two big IPOs hitting the Dalal street in the same year. With Jio’s IPO planned for 2025, we might see the retail arm going public in 2026 or later. Reliance Retail operates over 3,000 supermarkets and also deals in the e-commerce segment. The company feels the retail arm has grown “too fast” and needs some stability before the IPO. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/upcoming-ipos-this-week-swiggy-niva-bupa-health-insurance-and-more/slidelist/114937405.cms">Upcoming IPOs this week – Swiggy, Niva Bupa Health Insurance and more</a> <a href="https://www.businessinsider.in/business/auto/news/october-auto-sales-maruti-suzuki-and-tata-motors-report-a-decline-mahindra-continues-to-grow/articleshow/114931927.cms">October auto sales – Maruti Suzuki and Tata Motors report a decline, Mahindra continues to grow</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-13-announced-with-snapdragon-8-elite-6000mah-battery-and-more/articleshow/114842638.cms">OnePlus 13 announced with Snapdragon 8 Elite, 6,000mAh battery and more</a>

Reliance Jio IPO – India’s biggest telco to go public in 2025, retail IPO further away

<div type="image" title="For the unversed, trading in futures and options can be akin to setting their hard-earned money on fire" height="900" width="1200" msid="114064202" hostid="261" caption="&amp;lt;p&amp;gt;For the unversed, trading in futures and options can be akin to setting their hard-earned money on fire&amp;lt;/p&amp;gt;"></div> Once upon a time, there thrived a wild, wild land. Here, it was all about super high monetary stakes, lightning-fast trade deals, and bucketloads of money shifting hands every single second. This wilderness lured millions of individuals with the promise of super duper high returns. But, at what cost? Welcome to the unforgiving, ultra-risky wild west of <keyword id="19991165" type="General" weightage="20" keywordseo="Indian-equity-markets" source="keywords">Indian equity markets</keyword> called the <keyword id="145718" type="General" weightage="100" keywordseo="Futures-and-Options" source="Orion">futures and options</keyword>. Here, everyone seems to just fly right through the bright red-flagged warnings of financial risks to earn even a fraction of these promised returns. Most burn themselves in the process, but carry on nevertheless, as if nothing ever happened. <h2>Chasing the cloudy profits</h2>The data conclusively proves that every 9 out of 10 individuals only lost their hard-earned money in this land. But hey, what do the numbers know? Some hide their losses out of shame, some out of fear. The proponents, meanwhile, proudly boast unusually high returns on their investments, some open social media channels while others encourage their friends and family to take the plunge. Naturally, news of this unstoppable and humongous en-masse migration to the F&amp;O (futures and options) town has reached sheriff <keyword id="19901201" type="General" weightage="20" keywordseo="SEBI" source="keywords" meta.keywordsubtype="org" meta.entityname="SEBI" meta.hostid="261" meta.entityid="SEBI">SEBI</keyword>, galvanising them into action. After all, it was time to put a leash on this madness and save the common man. The inhabitants of this town doubled in the last 2 years, from 51 lakh in FY22 to 96 lakh in FY24—99.8% of whom were small and mid-income traders. But profits? Well, that's a different, rather completely absent story. <h2>Que Sera Sera, much?</h2>A recent report by SEBI (Securities and Exchange Board of India) that studied profits and losses made by traders in the equity derivatives segment between FY22-24 exposed the mad mania of futures and options trading in India, especially since the pandemic. Per the report, 91.1% of individual traders, or about 73 lakh traders had only lost money trading in futures and options in FY24. Between FY 22-24, over 1 crore traders, or about 92.8% of individual traders, had lost Rs 2 lakh each. But once bitten, twice shy? Well, not in this case. More than 75% of individuals, who had only made losses trading in F&amp;O in FY22 and FY23, continued to trade vigorously in FY24 as well, without any changes in the bottom line, which remained deep in red and negative. So, then all these traders must be uber-rich, with tons of cash and not much care to spare? Nope. 76% of traders in the F&amp;O space in FY24 had an annual income of less than Rs 5 lakh. 2 years ago, their share stood at 71%. And their choice of poison? Options! In FY24, 60% of traders made losses trading in futures, but a whopping 91.5% burnt their funds trading in options. Mind you, futures are riskier than options. With futures, which require significant capital investment, the buyer and seller both are contractually bound to adhere to the pre-determined strike price of the futures or options contract, irrespective of whether the prevailing prices are higher or lower (and thus, resulting in losses for either the buyer or seller). With options, since this adherence ain't necessary, individuals end up taking debt to take highly leveraged positions while trading here. <h2>Scale of the explosion</h2>Anyone who trades even infrequently will tell you that a demat account is the mitochondria or powerhouse of the trading cell. As of August 2024, India had over 17.1 crore <keyword id="20957284" type="General" weightage="20" keywordseo="demat-accounts" source="keywords">demat accounts</keyword>, which are a prerequisite for trading in the markets. India is the 9th biggest country in the world, in terms of total demat accounts. Did you know that our demat accounts are at par with the entire population of Bangladesh? Talk about scale! Just 4 years ago, in March 2020, this number was a mere 4 crore. Naturally, the total F&amp;O turnover on both <keyword id="20004725" type="General" weightage="20" keywordseo="NSE" source="keywords" meta.keywordsubtype="org" meta.entityname="NSE" meta.hostid="261" meta.entityid="NSE">NSE</keyword> and BSE has hit the roof, and also broken it. As of October 4, 2024, the total futures and options turnover on NSE stood at a massive Rs 4,78,27,27,750.30 crore. Good luck counting the thousands! <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Turnover (Both Futures and Options) (In Rs Crore) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2020-21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64,36,03,951.51 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021-22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,69,52,33,134.47 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2022-23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,82,23,26,468.06 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2023-24 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,99,27,67,152.43 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source : NSE Another metric that underlines the meteoric growth of trading in India is the collection of STT or <keyword id="20930760" type="General" weightage="20" keywordseo="Securities-Transaction-Tax" source="keywords">Securities Transaction Tax</keyword>. As of September 2024, India's STT mop-up had gone past Rs 26,000 crore. Traders have to pay STT whenever they buy or sell any security in the market. So, more trading brings in more STT, and hence, more revenue for the government, so they're not really complaining. After all, this is certainly what they'd call enviable growth. As of August 2023, our STT collection stood at about Rs 21,599 crores. And in FY20-21, India's STT collection had been Rs 16,000 crore. If only our salaries also managed to grow at this rate! <h2>So, what's happening?</h2>Two things. One, it's the big bulls who are raking in all the moolah. And it's the younger lot (those aged under 30) who are propping them up for this. In FY24, 43% of individual traders in the market were less than 30 years of age. In just one year, this number has swelled by 12 percentage points from just 31% of individual traders. But who says ageing is bad? Wrinkles and silver hair seemingly have a propensity of incurring lesser losses in the market. In FY24, only 79% of traders aged above 60 years made losses, as compared to 93% of those aged below 30. Small and mid-income traders, which make up 98% of the total trader base, witnessed average losses per person of Rs 65,000 and Rs 1.5 lakh in FY24 in futures and options, respectively. The winner here? Clearly, the big bulls, who declared an annual income of over Rs 1 crore, ended up with average profits of Rs 96,000 per person this year. <h2>What’s the sheriff up to?</h2>The government has finally swung into action, hiking the STT rate for F&amp;O during this year’s budget. Effective October 1, 2024, the STT on futures stands at 0.02%, up from 0.0125%. For options, it was upped to 0.1% versus 0.0625% previously. Small margins, but huge impact oncoming. Says Puneet Sharma- CEO and Fund Manager at Whitespace Alpha, “SEBI aims to enhance market stability while safeguarding investor interests, reflecting the regulator's intent to balance risk management with market participation”. But this might come with its own share of challenges, too. “Stricter norms around leverage, transparency, and capital adequacy could limit the ability of investors to determine their own risk appetite, thereby stifling innovation in trading strategies. Over-regulation in an environment that thrives on strategic flexibility and creativity could dampen the market’s dynamism, affecting India's competitiveness in the global derivatives landscape”, he observes. SEBI recently came out with a set of guidelines that aim to thwart <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword>' participation in futures and options and hinder them from taking undue risks. Here's a quick recap of what's to come for the residents of the F&amp;O town Margin Requirements: To battle the high volatility and chaos which is generally seen on expiry days(i.e the last mandated date, post which an option becomes invalid), SEBI will put in place an extreme loss margin (ELM) of 2% for all open short options on the day of expiry. Translation? Traders will need to pony up more cash upfront, leaving them with fewer funds to take on risky bets. It ain't a choice: No more of one expiry every single day! Going ahead, an exchange like BSE or NSE will just be able to offer weekly expiries, that too, only on one benchmark index, as opposed to an entire buffet it currently offers. At present, NSE offers weekly options contracts for its financial index, bank and midcap indices. But say goodbye to this, and hello to derivatives on only 1 index per exchange. Raising the bar: Effective November 30, 2024, the minimum contract value for index derivatives will be upped to Rs 15 lakh, from the present Rs 5-10 lakh. The hope is that by making it ultra-expensive to enter these trades, investors will be dissuaded from taking on risky trades. Pay upfront: Starting February 2025, those trading in options will have to pay the entire options premium upfront, even before their trades are executed. This is because options generally carry very high leverage, and paying a significant sum upfront can force traders to think twice. Invigilation Pro Max: Starting April 1 2025, to make sure that the number of positions for equity index derivatives does not slyly slip over the mandated limit, especially on expiry days when trade volumes are huge, the exchanges will have to take a minimum of 4 position snapshots randomly. The question is, will these injections of sobriety be enough to calm down the steroid-fed bull of the futures and options market in India? Well, only time and market turnover will tell! For more insights into the financial markets and business news, stay tuned to our site and social media handles. And don’t forget to subscribe to Business Insider India’s newsletters for your weekly dose of Simply Put! Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

SIMPLY PUT: SEBI is on a mission to take on the wild, wild west of futures and options in India. Here’s why, what, and how

<keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword>, under the leadership of <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>, showcased its vision for the future during the company’s Annual General Meeting (AGM) that was held today (August 29). During the AGM, <keyword id="19936674" type="General" weightage="20" keywordseo="reliance" source="keywords">Reliance</keyword> laid out ambitious plans that span across its diverse businesses. The conglomerate, which has interests ranging from oil to telecom to retail, is positioning itself as a key player in India’s growth story, with a particular focus on <keyword id="20239522" type="General" weightage="20" keywordseo="technological-innovation" source="keywords">technological innovation</keyword>, energy security, and retail expansion. <h2>Not chasing short-term profits</h2><keyword id="19898589" type="General" weightage="20" keywordseo="ambani" source="keywords">Ambani</keyword>, during his speech, said that Reliance is not merely chasing short-term profits but is dedicated to creating long-term wealth for the nation. He reiterated the company’s commitment to providing high-quality products and services that enhance the lives of Indian consumers. The chairman announced that the company’s board will consider issuing bonus shares on September 5, further rewarding shareholders as Reliance continues to grow. <h2>Transforming into a deep-tech company</h2>A major theme of the AGM this year was Reliance’s transformation into a deep tech company, with advanced manufacturing capabilities at its core. Ambani described this shift as essential to securing a place in the global top-30 companies in the near future. He highlighted the company’s strategic adoption of artificial intelligence (AI), calling it one of the most transformative events in human history. AI, he noted, opens up new avenues to address complex problems, making Reliance a net producer of technology. Reliance has been making significant strides in R&amp;D, with over ₹3,643 crore invested in FY24 alone, taking the total research expenditure to over ₹11,000 crore in the last four years. This investment is driving innovations in various areas, including bio-energy, solar power, green energy, and high-value chemicals. The company has also been active in digital research, filing patents in 6G, 5G, AI, and IoT, among others. Ambani assured that this tech-driven transformation would propel Reliance into a new phase of hyper-growth, multiplying its value in the coming years. <h2><keyword id="20337020" type="General" weightage="20" keywordseo="retail-business" source="keywords">Retail business</keyword> to double</h2>In addition to technological advancements, Reliance Retail, the company’s retail arm, is set to double its business in the next three to four years. Isha Ambani, Director of Reliance Retail, shared that the retail segment recorded a gross revenue of ₹3.06 lakh crore for the financial year ending March 31, 2024, marking a 17.8% growth over the previous year. The retail business has rapidly expanded, with Reliance opening 1,840 new stores in the past year, bringing the total to 18,836 stores across 79 million square feet of retail space. This growth has positioned Reliance Retail among the top-5 global retailers in terms of store count and among the top-10 in market capitalization globally. Isha Ambani emphasised that much of this growth is driven by a focus on smaller towns, where two-thirds of the new stores have been opened. Reliance Retail is also focused on creating high-quality, affordable products through its Consumer Brands business, which has seen the re-launch of popular brands like Campa, Lotus Chocolates, and Sosyo. Mukesh Ambani concluded by underscoring Reliance’s mission to provide energy security to India while also contributing to a cleaner and greener world. As the global landscape becomes increasingly uncertain, he expressed confidence in India’s role as a key growth engine in the global economy. The International Monetary Fund (IMF) projects that India will become the world’s third-largest economy by 2027, surpassing Japan and Germany. Ambani affirmed that Reliance will continue to be a driving force in India’s march toward becoming a developed nation.

Reliance AGM 2024: Company aims to double retail business, Mukesh Ambani says not pursuing short-term profit

<keyword id="19938772" type="General" weightage="20" keywordseo="Reliance-Industries-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries Ltd" meta.hostid="261" meta.entityid="Reliance Industries Ltd">Reliance Industries Ltd</keyword> on Monday reported an almost flat March quarter net profit, while its annual earnings hit a record high on the back of a recovery in its core oil and petrochemicals business and sustained momentum across the consumer-facing telecom and retail businesses. The oil-to-telecom-and-retail conglomerate's consolidated net profit stood at Rs 18,951 crore, or Rs 28.01 per share, in January-March quarter of the 2023-24 fiscal compared to Rs 19,299 crore, or Rs 28.52 a share, a year ago, according to a company's stock exchange filing. The profit was, however, higher quarter-on-quarter when compared to Rs 17,265 crore in October-December period. For the full fiscal FY24 (April 2023 to March 2024), Reliance posted a record net profit of Rs 69,621 crore as compared to Rs 66,702 crore earnings in the preceding financial year. Reliance also became the first Indian company to hit Rs 10 lakh crore turnover in FY24 when revenue from operations rose 2.6 per cent from Rs 9.74 lakh crore in 2022-23. The oil-to-chemicals (O2C) business, the main milch cow, posted a rise in profitability annually as well as sequentially, while retail business' earnings rose on new store openings despite lower footfalls. The firm helmed by billionaire <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> saw telecom revenues soar as it outpaced competition in subscriber addition and data traffic. While quarterly EBITDA (earnings before interest, taxes, depreciation, and amortization) was up 14.3 per cent year-on-year to Rs 47,150 crore, registering growth across all businesses, the revenue from operations rose almost 11 per cent to Rs 2.64 lakh crore. The mainstay oil refining and petrochemicals business, called O2C, posted a 11 per cent rise in revenue and a 3 per cent higher EBITDA at Rs 16,777 crore in Q4. This was primarily because of "advantageous" sourcing of feedstock (crude oil) for refining business and use of ethane for making chemicals as well as higher domestic product placement, a company statement said, adding exports were down 8.5 per cent. With the consumer base swelling to 481.8 million from 470.9 million at the end of December on a flat per-user revenues of Rs 181.7, Reliance <keyword id="21397660" type="General" weightage="20" keywordseo="Jio-Infocomm-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Jio Infocomm Ltd" meta.hostid="261" meta.entityid="Jio Infocomm Ltd">Jio Infocomm Ltd</keyword> - the digital services business - posted a 12 per cent rise in net profit at Rs 5,583 crore in the fourth quarter of FY24. Also, aiding the business was rise in data traffic to 40.9 billion GB in January-March from 38.1 billion GB in the preceding quarter. For the full year, Jio posted a profit of Rs 21,424 crore as compared to Rs 19,124 crore in FY23. Profits from the retail business climbed 11.7 per cent to Rs 2,698 crore as store count rose to 18,836 from 18,774. Store footfalls dropped to 272 million from 282 million in October-December 2023 but were higher than 219 million recorded in January-March 2023. Oil and gas EBITDA soared 47.5 per cent to Rs 5,606 crore as higher gas volumes partly offset lower price realisation. The firm's flagship KG-D6 block in Krishna Godavari basin in the Bay of Bengal is now producing about 30 million standard cubic metres per day of gas and 23,000 barrels a day of oil/condensate. The company said its outstanding debt rose to Rs 3.24 lakh crore from Rs 3.11 lakh crore in December-end. After accounting for cash in hand, net debt at Rs 1.16 lakh crore as on March 31 was lower than Rs 1.25 lakh crore a year back. Mukesh Ambani, Chairman and Managing Director of <keyword id="20076630" type="General" weightage="20" keywordseo="reliance-industries-limited" source="keywords">Reliance Industries Limited</keyword>, said all segments of business have posted a robust financial and operating performance. "This has helped the Company achieve multiple milestones. I am happy to share that this year, Reliance became the first Indian company to cross the Rs 1 lakh-crore threshold in pre-tax profits," he said. Performance of the digital services segment has been boosted by accelerated expansion of subscriber base, supported by both mobility and fixed wireless services, he said. "With over 108 million True 5G customers, Jio truly leads the 5G transformation in India." <keyword id="19901342" type="General" weightage="20" keywordseo="reliance-retail" source="keywords">Reliance Retail</keyword>, he said, continued to provide customers endless choices through its robust omni-channel presence. "We continue to offer product differentiation and superior offline experience through stores re-modelling and revamping of layouts. Our digital commerce platforms also provide newer solutions to users with a broad brand catalogue," Ambani said. Strong demand for fuels globally, and limited flexibility in refining system worldwide supported margins and profitability of the O2C segment. "Downstream chemical industry experienced increasingly challenging market conditions through the year. Despite headwinds, maintaining leading product positions and feedstock flexibility through our operating model that prioritises cost management, we delivered a resilient performance," he said. "We remain committed to our projects and initiatives, including those in the new energy segment, which will bolster the company, and help it deliver sustainable growth for the future," he added. 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Reliance Industries quarterly profit stays flat; annual earnings hit record at ₹69,621 crore

<keyword id="19938772" type="General" weightage="20" keywordseo="Reliance-Industries-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries Ltd" meta.hostid="261" meta.entityid="Reliance Industries Ltd">Reliance Industries Ltd</keyword> (<keyword id="20002939" type="General" weightage="20" keywordseo="RIL" source="keywords">RIL</keyword>) is set to hold its much-anticipated 47th Annual General Meeting (AGM) today, August 29, 2024. The AGM, which will be held virtually, is expected to feature some key announcements that could be of great interest to investors as well as shareholders. The meeting will start at 2:00 p.m. IST and will be live-streamed across various digital platforms. Read on to know all about <keyword id="22949345" type="General" weightage="100" keywordseo="Reliance-AGM" source="keywords">Reliance AGM</keyword> and what can be expected from it this year. <h2>What is Reliance AGM?</h2> The Reliance Annual General Meeting (AGM) is an important event where Reliance Industries Ltd (RIL) presents its financial performance, future strategies, and key developments to shareholders and the public. Held annually, this meeting is led by RIL Chairman <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> and serves as a platform for major announcements, including potential IPOs, business expansions, and technological advancements. The AGM attracts widespread attention from investors, analysts, and industry watchers, as it provides insights into the company’s direction and its impact on various sectors. <h2>Where to watch livestream</h2> The AGM will begin at 2:00 p.m. IST and will be conducted virtually, allowing millions of shareholders and investors to join from anywhere. The event will be live-streamed across various digital platforms, including RIL's social media pages on YouTube, X (formerly Twitter), and Facebook. Shareholders can join the live broadcast using the following link: <a href="https://jiomeet.jio.com/rilagm" target="_new">https://jiomeet.jio.com/rilagm</a>. <h2>What to expect from Reliance AGM 2024</h2> IPO announcements: One of the most closely watched aspects of the AGM is the potential announcement of IPO timelines for Reliance <keyword id="19906886" type="General" weightage="20" keywordseo="Jio" source="keywords">Jio</keyword> and Reliance Retail. The possibility of these two giants going public has been a topic of discussion since 2019, and with the five-year mark approaching, investors are keen to hear concrete plans. Energy projects: Reliance’s foray into the green energy sector has been a key focus in recent years. The AGM is expected to provide updates on the progress of the company’s ambitious new energy projects, particularly the development of a large green energy complex in Jamnagar. This complex, featuring giga factories for solar PV, energy storage, and other technologies, is part of Reliance’s broader strategy to transition from traditional energy sources to more sustainable options. Investors will be looking for detailed timelines and potential earnings projections from these ventures. 5G Rollout: Reliance Jio’s 5G rollout is another critical area of interest. The company has already made significant strides in expanding its 5G network across India, and the AGM is expected to shed light on how RIL plans to monetize this infrastructure. This could include potential partnerships, new service offerings like the JioPhone 5G, and strategies to increase subscriber growth. The success of Jio’s 5G rollout will be crucial in maintaining its competitive edge in the rapidly evolving telecom market. AI focus: In addition to its core business areas, Reliance is also expected to make announcements related to artificial intelligence (AI). With global tech giants increasingly focusing on AI, RIL is likely to reveal new AI initiatives tailored to the Indian market. This could include expansions to Hanuman AI, a generative AI tool developed with leading Indian institutions, which supports multiple Indian languages. Succession planning: Another topic of interest is Reliance’s succession plan. With Mukesh Ambani having previously outlined a blueprint for leadership transitions within the company, shareholders will be looking for updates on how these plans are being implemented. The AGM may provide further clarity on the roles of Ambani’s children—Akash, Isha, and Anant—who have been earmarked to lead the telecom, retail, and energy segments, respectively.

Reliance AGM 2024 at 2 pm today: What it is, where to watch, and what to expect

<keyword id="12792045" type="General" weightage="100" keywordseo="Future-Lifestyle" source="Orion">Future Lifestyle</keyword> Fashions Ltd has received a total claim of Rs 2,155.53 crore from 12 financial creditors in the <keyword id="5961445" type="General" weightage="20" keywordseo="corporate-insolvency-resolution-process" source="Orion">corporate insolvency resolution process</keyword> (CIRP) initiated against this Future group company recently. The resolution professional of the company has provisionally admitted claims of Rs 2,117.03 crore and claims worth Rs 38.5 crore are "under verification", said the latest data shared by Future Lifestyle Fashions Ltd (<keyword id="1567510" type="General" weightage="80" keywordseo="flfl" source="Orion">FLFL</keyword>) on the exchanges. As per the provision of the Insolvency &amp; Bankruptcy Code, a Committee of Creditors (CoC) of FLFL has been formed and it will have its first meeting next week. "We wish to inform you that the first meeting of CoC of Future Lifestyle Fashions Limited (under CIRP) will be held on Tuesday, June 6, 2023," it said. On May 4, the Mumbai bench of the National Company Law Tribunal(NCLT) had directed to initiate CIRP against FLFL, admitting a petition from Bank of India. This is the third company of the <keyword id="6361562" type="General" weightage="50" keywordseo="kishore" source="Orion">Kishore</keyword> Biyani-led Future Group to be dragged into CIRP by its creditors for defaulting on loans. Its flagship firm <keyword id="1636009" type="General" weightage="50" keywordseo="future-retail-ltd" source="Orion">Future Retail Ltd</keyword> and logistics and infra arm Future Enterprises are already facing insolvency proceedings. FLFL was considering asset monetisation to pare its debts, however, it did not materialise. It had entered into a One Time Restructuring (OTR) Plan with lenders also. The company has in-house retail chains Central and Brand Factory, exclusive brand outlets (EBOs) and other multi-brand outlets (MBOs) of nearly a dozen apparel labels, including Lee Copper, Champion, aLL, Indigo Nation, Giovani, John Miller, Scullers, Converse and Urbana in its portfolio. According to the regulatory filing, State Bank of India leads the CoC of FLFL with 22.51 per cent voting share. It had an admitted loan of Rs 476.59 crore. It is followed by Centbank Financial Services Ltd, a debenture trustee, having 21.01 per cent voting share with admitted claims of Rs 444.76 crore. The petitioner Bank of India has a 19.71 per cent voting share with admitted claims of Rs 417.33 crore and Bank of Baroda has a 14.02 per cent voting share with an admission of Rs 296.79 crore of claims. FLFL was part of the 19 group companies operating in retail, wholesale, logistics and warehousing segments, which were supposed to be transferred to <keyword id="58448" type="General" weightage="50" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword> as part of a Rs 24,713-crore deal announced in August 2020. The deal was called off by billionaire Mukesh Ambani-led Reliance Industries Ltd in April. After that, Future Group companies had several defaults on payments. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/meta-unveils-vr-headset-quest-3-ahead-of-apples-wwdc-event/articleshow/100698048.cms">Meta unveils VR headset 'Quest 3' ahead of Apple’s WWDC event</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/2-in-3-indian-screenwriters-lament-lack-of-pay-incentives/articleshow/100700189.cms">Behind the scenes: 2 in 3 Indian screenwriters lament lack of pay incentives</a>

Future Lifestyle Insolvency: RP receives claims of ₹2,155.53 cr from financial creditors

<ul class="summary-list"><li>America's post-pandemic shopping boom appears to be winding down.</li><li>Consumers are feeling the pain of accumulated price increases and are pickier with what they splurge on.</li></ul>America's wild, <a target="_blank" class="" href="https://www.businessinsider.com/hate-spending-consumers-economic-sentiment-retail-sales-inflation-gdp-growth-2024-4">multi-year shopping spree</a> has come to an end — and retailers who got used to Americans dropping cash on just about everything are in a tough spot.Companies are now grappling with the emergence of a more <a target="_blank" class="" href="https://www.businessinsider.com/consumer-spending-decline-how-retailers-respond-inflation-prices-walmart-costco-2024-6#:~:text=US%20consumer%20spending%20%E2%80%94%20especially%20on,%2C%20restaurants%2C%20and%20other%20experiences.">price-conscious consumer</a> than they have seen in years. Many people have drawn down their excess savings from the pandemic and are becoming painfully aware of the accumulated price increases, even as inflation has come down from multi-decade highs seen in the middle of 2022.According to a survey conducted by McKinsey &amp; Company, 76% of US consumers said they expected to "<a target="_blank" class="" href="https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/the-state-of-the-us-consumer">trade down</a>" over the third quarter, which includes things like delaying purchases, searching for discounts, or opting for a buy now, pay later plan at checkout.It's not that Americans have stopped spending. US retail sales came in stronger than expected in July, with Americans spending more overall compared to the prior month, according to <a target="_blank" class="" href="https://www.census.gov/retail/sales.html">Census</a> data.But consumers are flashing signs that they're way more eager to bargain hunt, and more picky on what they splurge on, according to Ted Rossman, a senior industry analyst at Bankrate.Americans are still willing to <a target="_blank" href="https://www.businessinsider.com/us-consumer-spending-international-travel-entertainment-surge-savings-2024-3">shell out for experiences</a>, Rossman said, pointing to success among airlines and travel-oriented firms. However, they seem to have tired out on goods. Around 40% of consumers said they planned to pare back spending on accessories, home decor, jewelry, and furniture, per McKinsey's survey."It's like, people are going to spend, but they're only going to spend when they feel like there's really value there," Rossman told Business Insider.Customers have likely refined their spending habits, with more Americans now searching for high-quality products at a good value, according to Simeon Siegel, a senior retail and ecommerce analyst at BMO. That's why firms at the low-end — like <a target="_blank" class="" href="https://www.businessinsider.com/mcdonalds-expensive-prices-too-high-fast-food-restaurant-falling-sales-2024-7">McDonald's</a> — as well as on the high-end — like <a target="_blank" class="" href="https://www.businessinsider.com/starbucks-lvmh-loreal-declining-sales-china-earnings-consumer-luxury-retail-2024-7">LVMH</a> — are struggling, he said. For many retailers that saw an across-the-board boom in profits amid post-pandemic revenge shopping, it's the end of an era, and companies are scrambling to figure out how to navigate the new world.<a target="_blank" class="" href="https://www.challengergray.com/blog/cnbc-retail-ceo-turnover-soars-and-fewer-women-hold-top-jobs-in-the-industry/">CEO turnover</a> in the retail industry more than doubled last year, with the sector notching the highest number of CEO change-ups in four years, according to Challenger, Gray &amp; Christmas.Most firms are also on high-alert for how consumers are reacting to higher prices. 86% of consumer staples firms in the S&amp;P 500 mentioned "<a target="_blank" class="" href="https://insight.factset.com/fewer-sp-500-companies-discussing-inflation-on-earnings-calls-for-7th-straight-quarter">inflation</a>" in their first quarter earnings call, according to data from FactSet.Some retailers, like Walmart and Target, have turned to <a target="_blank" class="" href="https://www.businessinsider.com/stores-cutting-prices-summer-list-walmart-target-amazon-aldi-walgreens-2024-6">aggressively slashing prices</a> — a sign that stores are getting more desperate in their efforts to get shoppers in the door, Siegel said."When the consumer had a wallet full of cash handed to them, they didn't have to be as thoughtful. They didn't have to hold back. And so everyone benefited. We're now back in an environment where good retailers, strong brands that offer compelling value … will benefit," Siegel said.<h2 id="2d50d303-346d-40f3-83e6-620eeca3d56c">Picky shoppers</h2>It's a stark turnaround from several years ago, when Americans under stay-at-home orders and flush with stimulus cash were buying just about everything.But those consumers have largely spent down their pile of extra cash, with household excess savings likely having been <a target="_blank" class="" href="https://www.frbsf.org/research-and-insights/blog/sf-fed-blog/2024/05/03/pandemic-savings-are-gone-whats-next-for-us-consumers/#:~:text=We%20estimate%20that%20excess%20savings,over%20the%20subsequent%202%C2%BD%20years.">depleted by the first quarter of 2024</a>, according to a projection from the San Francisco Fed.And consumers — especially those in the lower- to middle-income bracket — are showing signs that they're having trouble dealing with the higher cost of living. Less than half of middle-class Americans rated their personal finances as "excellent" or "good," and two-thirds of middle-class Americans said they believed their income was falling behind the cost of living, according to a second-quarter survey conducted by <a target="_blank" class="" href="https://www.primerica.com/public/Fact_Sheet_Primerica_Financial_Security_Monitor_Q2_2024.pdf">Primerica</a>.Inflation has cooled from its highs several years ago, but the increased selectiveness among consumers will likely continue for the foreseeable future, Rossman and Siegel predicted, due to the fact that it takes time for people's perception of the economy to change."You could correctly say, oh, inflation's come way down, but people's rents are up, people's grocery bills are up," Rossman said. "It's going to take a while to unwind some of that."In the meantime, that could mean more pain for retailers, Siegel said, speculating that many were caught by surprise by the shift in consumer sentiment.Investors are already feeling uneasy. Retail stocks are struggling, with SPDR S&amp;P retail exchange-traded fund falling more than 5% over the past six months."Companies either had product or they didn't, consumers either had stimulus or they didn't," Siegel said of pandemic times, noting that most retailers were able to succeed during the pandemic so long as they had inventory hitting the shelves. "I think we're back to an environment where there are winners or losers."For the weakest or most indebted retailers out there, it could mean that their businesses will continue to shrink, Siegel said, though he noted he wasn't necessarily predicting a wave of company failures."I think that the businesses, the management teams that plan only for good times are the management teams that won't be around for very long," he added.

America's shopping spree is over and retailers are facing a new world of cautious consumers

The <keyword id="6355809" type="General" weightage="20" keywordseo="NCLT" source="Orion">NCLT</keyword> has granted <keyword id="375475" type="General" weightage="20" keywordseo="Future-Retail" source="Orion">Future Retail</keyword> Ltd (FRL) an extension of 90 days for concluding the <keyword id="5961445" type="General" weightage="20" keywordseo="Corporate-Insolvency-Resolution-Process" source="Orion">Corporate Insolvency Resolution Process</keyword> (CIRP) of the company. Allowing FRL's plea the Mumbai bench of the National Company Law Tribunal (NCLT) has extended the deadline to July 15, 2023, for concluding the CIRP of FRL. "... NCLT on April 13, 2023, heard the application and granted the said exclusion of 90 days from CIRP of FRL and consequent extension for completion of CIRP till July 15, 2023," said a regulatory filing from the company. This order was pronounced orally by NCLT on April 13, 2023, and a "written order is awaited", FRL added. The CIRP was initiated against FRL by NCLT on July 20, 2022, following loan default. The Insolvency and Bankruptcy Code (IBC) time frame for resolution is 330 days, inclusive of the time taken for litigation. As per Section 12(1) of the Code, the CIRP shall be completed within a period of 180 days from the date of initiation. However, NCLT may grant a one-time extension of 90 days. The maximum time within which CIRP must be mandatorily completed, including any extension or litigation period, is 330 days. Last week, FRL informed that they have received an Expression of Interest (EoI) from 49 players, including <keyword id="10926" type="General" weightage="20" keywordseo="Reliance" source="Orion">Reliance</keyword> Retail, Jindal Power Ltd and <keyword id="6367820" type="General" weightage="20" keywordseo="Adani-Group" source="Orion">Adani Group</keyword> for acquiring the assets of FRL. On March 23, 2023, the resolution professional (RP) of FRL invited new expressions of interest, where prospective buyers can bid for the debt-ridden firm "as a going concern or individual cluster or a combination of clusters of its assets", as it failed to attract a resolution plan in over four months. Earlier, it had received EoI and finalised 11 prospective bidders, including Reliance and April Moon Retail, but could not get a resolution plan despite two extensions in the deadline for submissions. The Committee of Creditors had provided two options in the EoI, for which the last date for submission was April 7, 2023. In the first option, the Prospective Resolution Applicant (PRA) could bid for the acquisition of Future Retail as a whole, including its shareholding interest in its subsidiaries. While under the second option, Future Retail's business has been distributed in five clusters diving business, in which PRAs can bid for "any individual cluster or any combination of clusters." As per the invitation, FRL currently has access to 302 leased retail stores spread across 23 states and Union Territories, consisting of 30 large format stores such as <keyword id="6357823" type="General" weightage="20" keywordseo="Big-Bazaar" source="Orion">Big Bazaar</keyword> and <keyword id="17144190" type="General" weightage="20" keywordseo="FBB-stores" source="Orion">FBB stores</keyword> and 272 small format stores. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/even-mild-covid-infection-can-cause-sudden-hearing-loss-study/articleshow/99488945.cms">Even mild Covid infection can cause sudden hearing loss: Study</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/pfizers-new-bivalent-mrna-covid-booster-vax-highly-effective-lancet/articleshow/99488979.cms">Pfizer's new bivalent mRNA Covid booster vax highly effective: Lancet</a>

NCLT grants 90 days extension to Future Retail for concluding insolvency

French sports retailer <keyword id="19948511" type="General" weightage="20" keywordseo="Decathlon" source="keywords" meta.keywordsubtype="org" meta.entityname="Decathlon" meta.hostid="153" meta.entityid="Decathlon">Decathlon</keyword> on Wednesday said it will <keyword id="19954634" type="General" weightage="20" keywordseo="invest" source="keywords">invest</keyword> 100 million euros (around Rs 933 crore) in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>, its one of the fastest growing markets, in the next five years to expand <keyword id="19992513" type="General" weightage="20" keywordseo="retail" source="keywords">retail</keyword> footprint and <keyword id="19914449" type="General" weightage="20" keywordseo="manufacturing" source="keywords">manufacturing</keyword> operations. The company expects its business to become double in next three to five years, said Decathlon India CEO Sankar Chaterjee. The company plans to have a network of 190 stores, having presence in over 90 cities in next 5 years as part of its expansion, he added. Besides, a handful of this would also be spent on enhancing the digital channel as per the omni-channel approach of the company. Decathlon will expand its manufacturing operations and increase sourcing from india for the local market and its global operations. Currently 68 per cent of the goods sold in India are locally produced. Besides, 8 per cent of Decathlon's global product range are also met through India manufacturing. "We are aiming to take the domestic manufacturing for Decathlon India to 85 per cent by 2026," Chaterjee said. Decathlon plans to add 10-15 new stores every year, accelerating online sales and increasing local sourcing as part of expansion. Decathlon Global Chief Retail and Countries Officer Steve Dykes said India now plays an important role for the company. "India is a unique and exciting market with numerous opportunities. We have commitments to accelerate our efforts in india to make societal impact to inspire more and more Indians to play," he said. Dykes further said Decathlon will explore new sales channels as B2B to increase its impact. "We have a potential for India to play more and more and their role in Decathlon research and design and processes, over 2 million people are engaged globally in sports activity with a Decathlon clay app, and we have a big commitment in developing a future talent that comes from India, he said. In March Decathhlon had said India is a "big priority" market and expects it to be among its top five global markets within five years. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-gained-over-3-million-subscribers-in-june-vi-lost-nearly-a-million/articleshow/112670406.cms">Reliance Jio and Airtel gained over 3 million subscribers in June, Vi lost nearly a million</a> <a href="https://www.businessinsider.in/tech/mobile/news/the-iphone-pro-models-will-be-made-in-india-for-the-first-time-this-year/articleshow/112653019.cms">The iPhone Pro models will be made in India for the first time this year</a> <a href="https://www.businessinsider.in/stock-market/webstories/orient-technologies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112646237.cms">Orient Technologies IPO – Price band to risk factors, all you need to know</a>

You Searched For "future retail reliance deal" and got 9 results

Reliance Jio IPO – India’s biggest telco to go public in 2025, retail IPO further away

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Reliance AGM 2024: Company aims to double retail business, Mukesh Ambani says not pursuing short-term profit

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Reliance Industries quarterly profit stays flat; annual earnings hit record at ₹69,621 crore

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Reliance AGM 2024 at 2 pm today: What it is, where to watch, and what to expect

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Future Lifestyle Insolvency: RP receives claims of ₹2,155.53 cr from financial creditors

PTI

America's shopping spree is over and retailers are facing a new world of cautious consumers

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NCLT grants 90 days extension to Future Retail for concluding insolvency

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Decathlon to invest 100 million euros in India in next 5 years to expand retail, manufacturing

PTI

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