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<ul><li>One of India's biggest conglomerates is changing character adapting to the compulsions of the digital age.</li><li>Satya Nadella's appearance was the big surprise at the AGM as Microsoft and Mukesh Ambani joined hands to take on Jeff Bezos' Amazon in areas like cloud computing and targeting small businesses for digital transformation.</li><li>RIL was already shifting focus to its consumer businesses like retail and telecom, but now it is aiming for large scale integration of interests wherever possible.</li><li>Money coming in from Aramco and BP will give RIL more muscle to aggressively take on incumbent telecom players like Airtel and Vodafone-Idea in not just mobile telephony but also in fixed line broadband, Jio Fibre, that will be launched on September 5.</li></ul>All eyes were on Mukesh Ambani today (August 12) who delivered his speech at Reliance Industries' 42nd Annual General Meeting (AGM). Here are the top ten takeaways from a historic speech that laid out the path for the transformation of one of India's biggest and fairly old conglomerate: 1. A $15 billion cash-out Saudi Arabia's state-owned oil producer, Aramco, will buy 20% stake in the Indian behemoth's oil-to-chemicals business, valuing the unit at $75 billion. This would make the investment from Aramco in RIL at about $15 billion. This partnership will be across refining and petrochemical assets. The Saudi government owned oil major will also supply 500 barrels of day crude oil to RIL’s Jamnagar refinery. “This signifies perfect synergy and world’ largest integrated refinery and petchem complex,” Ambani said. 2. More money, less debt Reliance Industries has a huge debt of about $21 billion. This has been a huge concern for investors lately which led to a fall in the stock price in the last few months. However, Ambani declared that the net debt will be zero by March 2021. The company has cash and cash equivalents of about $19.5 billion and another $15 billion from Aramco will help the company retire its massive debt. RIL will also get another $1 billion from its joint venture with BP. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 3. Reliance Jio and Reliance Retail will be spun out Reliance Jio and Reliance Retail will be listed in the next five years, Mukesh Ambani told his investors. "There has to be an 18-month gap between the two listings, and therefore the five-year timeline may be crunched to 3 years," an analyst, SP Tulsian, explained on CNBC-TV18. 4. Satya Nadella comes for a cameo, but is here to stay The surprise guest at the AGM today was global tech icon Satya Nadella, the Chairman of Microsoft, who joined the RIL AGM. Microsoft and Reliance Industries have joined hands to take Jeff Bezos' Amazon head on. 
	
 
 
 
 
 
 
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 "It is imperative to develop a nation-wide cloud infrastructure which is at the same time cutting-edge and affordable," he said. Microsoft will bring Azure into Jio data centres. Small businesses can get the voice/data services, marketing and sales solutions and all Microsoft tools package at a starting price of ₹1,500 a month. 5. The threat to Jeff Bezos Microsoft's tie-up with Jio will, probably, be the biggest challenge for Jeff Bezos in one of the world's biggest markets, India. Reliance will offer end-to-end digital stack to "enable and empower" small merchants currently at the mercy of other online retail platforms like Amazon and Flipkart (now owned by Walmart). This stack will include a point-of-sale payment device, which could be a $900 billion market, according to Jal Irani, analyst at Edelweiss Financial Services. 6. Once an oil giant, now immersed in technology Ambani's plan for digital transformation is that of convergence with the physical world. Reliance Industries plans to take long strides in spaces like 'Internet of Things' (IoT), cloud computing and a broadband ecosystem. So far, Jio had only one revenue stream, and now there will be four more streams of revenue that will kick in from the current financial year itself. "Within another 2 years, there will be over 2 billion connected devices in India, and Jio aims to have half of those on its IoT platform. This will be a ₹20,000 crore revenue opportunity and the commercial ops will begin from January 2020," Ambani said. 7. <keyword id="7975366" type="UNKNOWN" weightage="20" keywordseo="jio-fibre-launch-date">Jio Fibre launch date</keyword> and tariff plan Jio Fibre will be availabe starting September 5, the third anniversary of Jio's launch, across India. The full network roll-out for Jio Fibre in the next year. After disrupting mobile telephony, Ambani is targeting the fixed line broadband. Of the total 240 million households in India, the broadband penetration in India is only about 10% right now. That leaves Ambani to fight a large under-served market without having to offer deep discounts. Jio will come bundled with most-premium OTT applications. Jio will also release movies on its platforms on the same day as the theatres. Jio Fibre users subscribing for 'forever annual plans' will get an 4K LED television and a 4K set-top box. 8. The difference between Jio mobile and Jio Fibre However, this time Jio does not seem to burn cash offering discounts to win over customers but is betting more on offering more value for a reasonable price. The plans will cost anywhere between ₹700 and ₹10,000 per month. Any voice call on Jio will be free forever. The fixed line international calls will be cheaper by up to 90% of the existing industry tariffs. Calls to US and Canada from India on Jio will cost only ₹500 a month. 
 
 
 
 
 
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 9. From content creator to content aggregator Jio seems to have changed focus from creating fresh content for its platform to building alliances with other OTT platforms. Ambani also revealed that Jio will be able to offer traditional TV channels to its customers. Earlier this year, RIL acquired controlling stakes in Hathway, Den and GTPL. Together, they give RIL access to 30,000 local cable operators. "We have designed a Jio set top box that will broadcast TV channels, for which the local cable operators will get a steady revenue. This set top box will be sold to all Jio Fibre customers," the RIL chairman said. Premium subscribers of Jio Fibre will also be able to watch newly-released movies at the comfort of their home on the day of their release in the theaters. This will be a huge setback for companies like Inox and PVR as Jio's offering may affect footfalls at multiplexes and box office collections too. 10. More bad news for Vodafone Idea and Airtel Jio's mobile phone services has about 340 million subscribers as of now. Ambani is targeting to take this number to over 500 million over the next few months. That would mean Jio will remain an aggressive player in the market and that's bad news for other players like Airtel and Vodafone Idea. Given that RIL is getting additional cash from Aramco and BP, and if it becomes a zero net debt company by March 2021, the company of its size and scale will only have more money to muscle out other players with its aggressive pricing. Other telcos are already in deep trouble after having fought Jio in the market for nearly three years with higher discounts, funded by higher debt. "Reliance Industries' stock may hit a new high, beating its previous high of about ₹1,400, in 2019 itself," SP Tulsian said. Expect a rally when the market reopens for trade on Tuesday (August 13). SEE ALSO: <a href="https://www.businessinsider.in/business/what-to-expect-from-mukesh-ambani-at-reliance-industries-agm/articleshow/70637794.cms" data-type="tilCustomLink" target="_blank"></a>

Mukesh Ambani's speech at the Reliance Industries AGM had ten big takeaways

<ul><li>After the 42nd <keyword id="6355199" type="ORGANIZATION" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> Limited (RIL) Annual General meeting yesterday, the company's stocks at trading at an 11% high today.</li><li>Chairman of RIL, <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>, announced the upcoming launch of <keyword id="4056036" type="PERSON" weightage="20" keywordseo="Jio-Fiber">Jio Fiber</keyword> and its many features which has left its competitors in a lurch.</li><li>As a result, companies like Airtel, Tata Communications, PVR cinemas and Vodafone Idea are trading in the red.</li></ul>Reliance Industries Limited (RIL) saw the biggest intraday rise in its share price today driving shares up by 12% and taking the benchmark indices like Sensex and Nifty along with it. Nearly half of all stocks on these indices are in red but heavyweight Reliance alone has managed to keep mood afloat. The spike in RIL's share price has put it back in the race of becoming the highest valued Indian company trailing behind Tata Consultancy Services (TCS) by $1 billion. However, RIL's gains have come at a huge loss for many of its competitors in many different sectors. <a href="https://www.businessinsider.in/highlights-of-mukesh-ambani-speech-at-reliance-industries-agm/articleshow/70638299.cms">Chairman Mukesh Ambani's speech</a> laid out his vision for the company and <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">every plan</a> of his came as a threat to one existing company or the other. Given its size, scale, its pile of cash and Ambani's deep pockets, anyone competing with Reliance Industries is expected to have a tough time. Jio Fibre, the frontier Ambani announced that <a href="https://www.businessinsider.in/reliance-jio-gigafiber-launch-heres-what-it-will-offer-consumers/articleshow/70630655.cms">Jio Fiber</a> will be launching commercially starting 5 September 2019 with plans that start at ₹700 with a minimum speed of 100 Mbps. Jio's competitors, Airtel and Vodafone Idea, are already feeling the pressure with their stocks taking a dip when the markets opened today morning. But both Airtel and Vodafone Idea have more to fear than just Jio Fibre. The Aramco energy Jio's mobile phone services has about 340 million subscribers as of now. Ambani is targeting to take this number to over 500 million over the next few months. That would mean Jio will remain an aggressive player in the market and that's bad news for other players like Airtel and Vodafone Idea. Given that RIL is getting additional cash from Aramco and BP, and if it becomes a zero net debt company by March 2021, the company of its size and scale will only have more money to muscle out other players with its aggressive pricing. Other telcos are already in deep trouble after having fought Jio in the market for nearly three years with higher discounts, funded by higher debt. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Stock </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Impact </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Airtel </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">-5.28% </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Vodafone Idea </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">-6.54% </td></tr></tbody></table> Movie theaters feel the heat Ambani also announced that the Jio Fiber service will also include a feature called ‘<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">First Day First Show</a>'. Essentially, you'll be able to watch a film at home, the same time as it releases in theaters. <a href="https://twitter.com/INOXMovies/status/1161139021994758145">Inox</a>, responded to Ambani's announcement by stating that multiplex owners have exclusive theatrical window of eight weeks before a movie can be released on any other platform. Something, they point out, that is followed internationally. "We strongly believe that Indian move watchers' love for cinema on giant screen is deep rooted and unshakeable," the company said. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Stock </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Impact </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">PVR </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">-4.10% </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Inox Leisure Limited </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">-4.11% </td></tr></tbody></table> And, then there's television The Jio Fiber service will come bundled with a 4K LED television and a set top box for premium customers. Ambani also said that he will throw in OTT subscriptions at no additional cost. So, it's your OTT services, cable services and broadband along with new devices — all wrapped into one. That would dwarf the current offerings from companies like Tata Communications, the company behind Tata Sky, and Dish TV. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Stock </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Impact </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Tata Communications </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">-4.3% </td></tr><tr><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Dish TV </td><td style="border-left:solid #cccccc 0.7470705000000001pt;border-right:solid #cccccc 0.7470705000000001pt;border-bottom:solid #cccccc 0.7470705000000001pt;border-top:solid #cccccc 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">-3.21% </td></tr></tbody></table> See also: <a href="https://www.businessinsider.in/The-Indian-rupee-is-falling-fast-and-there-are-both-winners-and-losers/articleshow/70652166.cms" style="">The Indian rupee is falling fast-- and there are both winners and losers</a> <a href="https://www.businessinsider.in/tech/mukesh-ambani-plans-to-connect-a-billion-devices-on-his-iot-platform-and-hes-not-only-talking-about-light-bulbs/articleshow/70643115.cms">Mukesh Ambani plans to connect a billion devices on his IoT platform — and he isn't only talking about light bulbs</a> <a href="https://www.businessinsider.in/highlights-of-mukesh-ambani-speech-at-reliance-industries-agm/articleshow/70638299.cms">Mukesh Ambani's speech at the Reliance Industries AGM had ten big takeaways</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>

The best day for Mukesh Ambani's Reliance Industries in a decade was a bad one for its rivals

<ul><li>Microsoft CEO and chairman <keyword id="276564" type="General" weightage="20" keywordseo="satya-nadella" source="Orion">Satya Nadella</keyword> received the <keyword id="6367604" type="General" weightage="20" keywordseo="padma" source="Orion">Padma</keyword> Bhushan award from the Indian Consul General in San Francisco.</li><li><keyword id="2045946" type="General" weightage="100" keywordseo="nadella" source="Orion">Nadella</keyword> was born in a family of professionals and now heads one of the few trillion-dollar companies of the world. </li><li>Nadella has been with Microsoft for nearly two-thirds of the company’s existence.</li></ul>Satya Nadella has an unassuming demeanor for a CEO of one of the few <a href="https://www.businessinsider.in/business/corporates/news/heres-what-it-takes-to-make-a-trillion-dollar-company/articleshow/94940917.cms">trillion-dollar companies in the world</a>. Now, this Hyderabad-born IAS officer’s son has received the Padma Bhushan, India’s third highest civilian award from India’s Consul General in San Francisco, Dr T V Nagendra Prasad. Nadella is the only third CEO of Microsoft after the company’s founder Bill Gates, and Steve Ballmer. He is credited with revolutionizing Microsoft’s cloud business, from lagging behind Amazon to bagging multi-billion dollar US Defense Department’s contracts. Nadella was appointed Microsoft’s CEO – the third in the company’s 47-year-old history – in 2014. Earlier in 2021, he was also appointed as the company’s chairman, making him responsible for setting the tone for Microsoft’s future. Nadella was awarded the Padma Bhushan along with other IT veterans – Tata Sons’ CEO Natarajan Chandrasekaran, and Alphabet CEO Sundar Pichai. Nadella says he will visit India in January next year, according to a PTI report. <cmsannotation type="cmsannotation" annotationid="Born in a family of professionals" comment="subhead" text="Born in a family of professionals">Born in a family of professionals</cmsannotation> Born in Hyderabad in 1967, Satya Narayana Nadella came from a family of professionals. His father, Bukkapuram Nadella Yugandhar, was an IAS officer while his mother, Prabhavati, was a Sanskrit lecturer. Nadella started his journey in one of Hyderabad’s illustrious schools, the Hyderabad Public School. Like many students, Nadella opted for engineering – he got his electrical engineering degree from Mangalore University in 1988. He went on to do his master’s in computer science from the University of Wisconsin in 1990. Nadella married Anupama Nadella in 1992, and has three children. Nadella’s journey sounds like a typical South Indian’s – an engineering degree and work for a tech company. Soon after finishing his master’s in the US in 1990, Nadella worked for Sun Microsystems for two years before landing a job at Microsoft in 1992. <cmsannotation type="cmsannotation" annotationid="Nadella’s Microsoft journey – from a developer to the chairman" comment="subhead" text="Nadella’s Microsoft journey – from a developer to the chairman">Nadella’s Microsoft journey – from a developer to the chairman</cmsannotation> Nadella’s rise to the top echelons of Microsoft started with him being scooped up by the Windows-maker from Sun Microsystems in 1992. Nadella joined the company as a Windows NT developer and from thereon, he rose in the ranks of Microsoft's divisions catering to businesses. In 2007, Nadella was appointed as the vice president of Microsoft’s research and development department. He was elevated as the president of the company’s server business in 2011, which accounted for $19 billion of the company’s revenue. In 2014, after being appointed as the CEO, one of his first moves was to acquire Nokia’s phone business for $7.2 billion – a move that would eventually falter. Under Nadella’s watch, Microsoft’s market capitalisation has surged over 5x – from $310 billion in 2014 to $1.76 trillion now. Nadella has remained with the Windows-maker for three decades now – or nearly two-thirds of the company’s history. The networth of Nadella is at ₹6,200 crore, according to IIFL Hurun India Rich List 2022. <cmsannotation type="cmsannotation" annotationid="Beyond Microsoft" comment="subhead" text="Beyond Microsoft">Beyond Microsoft</cmsannotation> Nadella’s life beyond Microsoft includes being a board trustee of University of Chicago and Fred Hutchinson Cancer Research Center. He is also on the board of Starbucks. Before being awarded the Padma Bhushan, Nadella was named on the Time 100 list in 2018, and businessperson of the year by Financial Times and Fortune magazine in 2019. Nadella also authored Hit Refresh, a book on his life and his leadership learnings at Microsoft, with Greg Shaw and Jill Tracie Nichols. <cmsannotation type="cmsannotation" annotationid="Other business leaders who’ve been honoured with Padma awards" comment="subhead" text="Other business leaders who’ve been honoured with Padma awards">Other business leaders who’ve been honoured with Padma awards</cmsannotation> The Indian government has awarded several business leaders with Padma awards. The list includes big names like Dr Cyrus Poonawalla, M&amp;M’s Anand Mahindra, TVS’ Venu Srinivasan, and Krishna Ella and Suchitra Ella, among others. Another notable person on the list is Ryuko Hira, a Japanese businessman who is known for playing a crucial role in bringing Japanese investments to India. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/indian-students-going-abroad-to-face-a-triple-whammy-of-inflation-forex-and-interest-rates/articleshow/94974003.cms">Indian students going abroad to face a triple whammy of inflation, forex and interest rates</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-transmission-bags-project-from-best-to-install-over-1-million-smart-meters-in-mumbai/articleshow/94982223.cms">Adani Transmission bags project from BEST to install over 1 million smart meters in Mumbai</a> <a href="https://www.businessinsider.in/finance/news/rupee-hits-record-low-of-83-06-against-us-dollar/articleshow/94978753.cms">Rupee hits record low of 83.06 against US dollar</a>

Satya Nadella hits refresh – from Hyderabad to Microsoft CEO to Padma awardee

New Delhi, Jul 13 () Reliance Industries, India's most valuable company, will hold its first online AGM on Wednesday and it promises to be a much bigger affair with a brand-new virtual platform that can log more than 1 lakh shareholders from 500 locations simultaneously. Reliance had so far held all in its annual general meeting (AGM) physically with shareholders outside Mumbai could never attend the annual event. They can now simply log into the event live, can listen to the plans and initiatives and comment and participate too, company sources said. For easy onboarding of its shareholders, RIL has launched an educative Chatbot via Whatsapp number +91-79771-11111 to nuance processing of logging in, asking questions and voting on the resolution. The Chatbot is equipped to answer queries and guide shareholders, prospective investors, media, and general public with accurate and immediate information on the AGM. A Chatbot works as 24x7 helpdesk, but this one can handle 50,000 querists simultaneously via conversational text and video, they said. The AGM on July 15 will showcase multiple first on a real-time basis - including a two-way live streaming and a brand-new virtual platform that enables more than 1 lakh shareholders from 500 locations, in India and overseas, to log in simultaneously, they added. The Chatbot, which debuted during Reliance's mega Rs 53,124 crore rights issue, is powered by Jio Haptik. 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 26 lakh. And now the upcoming AGM will be virtual, where shareholders will be able to watch the AGM, ask questions to the chairman and vote - all aided by technology, in line with RIL's current focus, the sources said. By going online, RIL is bringing together its highly widespread shareholding of 26 lakh. In addition to shareholders in India, those in other countries like the US, UK, Canada UAE, Japan, HongKong, Singapore, Malaysia, and Australia will log in, they said. Platforms and capabilities to stitch the mega-AGM include video conferencing, the Jio Meet platform, Cisco Webex, and commercial webcast. All directors, key officials, and shareholder speakers will be visible and audible and thousands of shareholders will be able to post their questions and eVote on resolutions. 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. But the oil-to-telecom conglomerate achieved net-debt free status last month itself on the back of a record fundraising from stake sales and rights issue. Reliance secured over Rs 1.18 lakh crore from global tech investors, including Facebook, by selling 25.24 per cent of its digital business and raised Rs 53,124 crore by selling shares to existing investors. 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 month. 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. ANZ BAL

Reliance 1st online AGM to feature brand-new virtual platform, Chatbot

<ul><li>Nadella is the third person to become Microsoft’s CEO after Bill Gates and Steve Ballmer. </li><li>He authored a book titled ‘Hit Refresh’ which talks about his life and career. </li><li>Here are a few interesting and lesser known <keyword id="8832923" type="UNKNOWN" weightage="20" keywordseo="facts-about-Satya-Nadella">facts about Satya Nadella</keyword>.</li></ul>Ascending to great heights in his career, <keyword id="276564" type="PERSON" weightage="20" keywordseo="Satya-Nadella">Satya Nadella</keyword> became the CEO of Microsoft in 2014, succeeding Steve Ballmer. Before taking up this responsibility, he was the executive vice-president of the cloud and enterprise segment of Microsoft that is responsible for constructing and administering the firm’s computing platform. Birth and education Satya Nadella was born in Hyderabad and hails from a Telugu speaking family. His father Nadella Yugandhar was a civil servant of the 1962 batch and worked for the Indian Administrative Service. Satya Nadella did his schooling in Hyderabad Public School, Begumpet and then got his Bachelor’s degree in electrical engineering from Manipal Institute of Technology. He studied M.S. in Computer Science at the University of Wisconsin – Milwaukee. He too has an MBA from the University of Chicago Booth School of Business. Career of Satya Nadella After working for Sun Microsystems as a member of its technology staff, Nadella joined Microsoft in 1992. At Microsoft, Nadella pioneered some significant projects like moving the company to cloud computing and launching one of the largest cloud infrastructures in the world. He played the crucial role of bringing Microsoft’s database, windows server and developer tools under its Azure cloud. After helping generate billions in profit in two years between 2011 and 2013, he received a pay of $84.5 million in 2016. CEO of Microsoft Nadella was declared the CEO of Microsoft in 2014. He was the third executive in the company to occupy this position after Bill Gates and Steve Ballmer. After holding the reins of the company, Nadella brought a great degree of openness in Microsoft’s working with other companies and technologies. He changed the company’s mission statement to "empower every person and every organization on the planet to achieve more". Microsoft’s acquisitions and phenomenal growth Under Nadella, Microsoft went in for a few successful acquisitions. The first of its kind was that of Mojang, a Swedish game company popularly known for the game Minecraft in 2014 in a deal worth $2.5 billion. In 2016, the company purchased Xamarin and LinkedIn followed by the acquisition of GitHub in 2018. Under his leadership, Microsoft’s stock tripled in value in 2018 and the annual growth rate was 27%. A number of reviews by the employees of the firm called Nadella the best CEO of a large company in the US. Family of Satya Nadella Satya Nadella married Anupama, the daughter of his father’s friend and also his junior at Manipal who did her B.Arch at the Faculty of Architecture. They have a son and two daughters. They live in Clyde Hill and Bellevue, Washington. Interests and hobbies o f Satya Nadella Nadella loves American and Indian poetry. He also likes cricket. He and his wife Anupama together are part of the ownership group of Seattle Sounders FC, a Major League Soccer club. He has also authored a book titled Hit Refresh which talks about his life and career. See Also: <a href="https://www.businessinsider.in/business/corporates/news/microsoft-top-boss-satya-nadellas-conversation-with-mukesh-ambani-asias-richest-man/articleshow/74278962.cms">Sathya Nadella conversation with Mukesh Ambani</a> I<a href="https://www.businessinsider.in/10-interesting-facts-about-ratan-tata-that-you-should-know/articleshow/69914798.cms">nteresting facts about Ratan Tata</a> <a href="https://www.businessinsider.in/interesting-facts-about-oyo-founder-ritesh-agarwal/articleshow/70417612.cms">Oyo founder Ritesh Agarwal</a>

Interesting facts about microsoft CEO Satya Nadella

<div class="KonaFilter image-container display-table float_right"><div><div class="image">MicrosoftMicrosoft CEO Satya Nadella.</div></div></div>It's no secret that Satya Nadella has created a nicer and friendlier image for Microsoft since taking over as CEO last year.In large part, Nadella has been able to do it by opening up the company to more partnerships, even teaming up with old foes like Salesforce and Box, which have often engaged in public, trash-talking events with Microsoft in the past.In fact, Salesforce CEO Marc Benioff, who had been one of the most vocal critics of ex-Microsoft CEO Steve Ballmer during his tenure, thinks that's why Nadella was picked to replace Ballmer as head of the company."I think one of the reasons Steve Ballmer is not the CEO of Microsoft and Satya Nadella is [is] because Steve had a hard time having relationships with other CEOs," Benioff said in an interview on <a href="http://www.bloomberg.com/news/videos/2015-12-02/marc-benioff-yahoo-ceo-mayer-completely-magical-">Bloomberg TV's Bloomberg "Go" Wednesday</a>. "I know that from my personal experience, and Satya's the opposite."Before Nadella came on board, Salesforce didn't do any meaningful work with Microsoft. If anything, Benioff <a href="http://www.businessinsider.com/benioff-to-ballmer-good-bye-old-era-2013-11">would openly criticize the company</a> for failing to go social or mobile under Ballmer's tenure.But over the past two years, after Nadella's appointment, the two companies have been working closely together, announcing multiple <a href="http://www.businessinsider.com/salesforce-and-microsoft-partnership-2014-5">collaboration deals</a>, including a more tightly integrated Salesforce product with Microsoft's Windows devices and Office suite offerings.<h2>Attracting talent</h2>The two companies have grown so close that there were even reports of Microsoft possibly acquiring Salesforce earlier this year. Nadella, in fact, also became the first Microsoft CEO to ever hold a keynote speech at Dreamforce this year, the big annual user conference hosted by Salesforce.Nadella's strategy to collaborate with others is also drawing more talented executives to Microsoft. Peggy Johnson, Microsoft's executive VP of business development, who also happens to be Nadella's first big hire, said she was convinced to join Microsoft last year because of his openness toward partnerships."I had watched his progression and I was curious about his vision. He seems so different. And out of the blue, when I got a call to look at the role as head of business development, and got to meet Satya in person - he's such a change agent," Johnson <a href="http://www.businessinsider.com/peggy-johnson-on-microsoft-ceo-nadella-2015-9">said in a previous interview with Bloomberg</a>.In the past year, Johnson has already been able to strike deals with Uber, Yahoo, and AOL. And she believes the list of partners will only continue to grow."Satya recognizes the importance of working with partners, so I think you'll continue to see perhaps surprising relationships in the year ahead," she said. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/fly-air-koryo-north-korea-2015-11">What it's like to fly on North Korea's one-star airline</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="FtcGR3eDokiY0HntoqP5bNF7bNXqsXmv" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

One reason why Satya Nadella, not Steve Ballmer, is Microsoft's CEO, according to an old rival

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://www.apimages.com/metadata/Index/APTOPIX-Microsoft-Build-Conference/007cc4a9783e4167bd2efaae59581df6/3/0">AP</a>Microsoft CEO Satya Nadella</div></div></div><ul><li>Microsoft CEO Satya Nadella sold $35.9 million worth of stock, according to regulatory filings. </li><li>It's his largest stock sale since he took over in 2014. In 2016, Nadella sold $8.3 million worth of stock. </li><li>The sale represented about 30% of his common Microsoft stock. Plus, he still holds 2.2 million of different types of shares in the company.</li></ul>Microsoft CEO Satya Nadella sold $35.9 million worth of his shares in the company, according to a <a href="https://www.sec.gov/Archives/edgar/data/789019/000162643118000074/xslF345X03/edgar.xml">filing with the SEC </a>on Friday. The filing shows that Nadella sold 328,000 shares, accounting for about a third of his common stock in the company. After the sale, he still owns 778,596 common shares in Microsoft - plus another 2.2 million or so of different types of shares in the company. This move represents Nadella's biggest stock sale since taking the reigns at Microsoft in 2014. Previously, Nadella had <a href="https://www.zacks.com/stock/news/227970/microsoft-ceo-satya-nadella-offloads-shares-nets-83-m">sold about $8.3 million</a> worth of stock in 2016. In a <a href="https://www.bloomberg.com/news/articles/2018-08-10/microsoft-ceo-sells-36-million-in-stock-starts-trading-plan">statement to Bloomberg</a>, Microsoft says that Nadella made the move "for personal financial planning and diversification reasons." Bloomberg also reports that this marks the beginning of a trading plan, whereby Nadella will regularly sell portions of his Microsoft equity on a fixed schedule."Satya is committed to the continued success of the company and his holdings significantly exceed the holding requirements set by the Microsoft Board of Directors," Microsoft said in the statement. Still, it just adds to Nadella's considerable personal fortune: Nadella took home about <a href="https://www.businessinsider.com/microsoft-ceo-satya-nadella-made-20-million-fy2017-2017-10">$20 million in cash and stock in Microsoft's 2017 fiscal year alone. </a> And under Nadella's leadership, Microsoft stock continues to set all-time highs, as the $835 billion company marches steadily towards a $1 trillion valuation, making his stock even more valuable.Microsoft was not immediately available for comment.Get the latest Microsoft stock price<a href="http://markets.businessinsider.com/stock/MSFT-Quote"> here.</a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/what-many-people-get-wrong-about-bitcoin-2018-7">An early bitcoin investor explains what most people get wrong about the cryptocurrency</a></h3> <div> </div> </div>

Microsoft CEO Satya Nadella sold $35.9 million worth of his shares in the company - his biggest stock sale yet

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Today is the one-year anniversary of Satya Nadella as CEO of Microsoft. 
Dina Bass at Bloomberg Business <a href="http://www.bloomberg.com/news/articles/2015-02-04/why-nadella-s-second-year-as-microsoft-ceo-will-be-a-lot-harder">has a look-back at his first twelve months</a>. 
One of the interesting nuggets in her story: He told employees to stop wasting their times at pointless meetings.
Bass reports:
"He has been vocal about the need for efficiency. Last year, Nadella told an employee town hall that workers should skip meetings they've been invited to if they don't really need to be there. He's advised workers to take things to him directly if they feel the bureaucracy is stifling."
It's a part of Nadella trying to stop Microsoft from being a slow moving bloated organization. 
Another interesting nugget: Satya keeps a dashboard that measures the performance of all his executives.
Microsoft Corp. Chief Executive Officer Satya Nadella has an online dashboard that he looks at every day -- one for each of his executive staff with real-time graphs and data on financial performance to product usage.
Executives bring out the dashboards each Friday at senior leadership meetings to help coordinate efforts across business units, according to the executive who oversees the product. It's a symbol of the changes Nadella is making in his drive to retool Microsoft for the mobile-computing era and to focus on software products that can be used by anyone, anywhere.
Read <a href="http://www.bloomberg.com/news/articles/2015-02-04/why-nadella-s-second-year-as-microsoft-ceo-will-be-a-lot-harder">the full story at Bloomberg Business &gt;</a>

Microsoft's CEO is telling employees to skip pointless meetings

<ul><li>Initially, many thought Nadella couldn’t be the kind of CEO Bill Gates or Steve Ballmer were. </li><li>But Satya Nadella’s entry turned out to be an unexpected game changer.</li><li><keyword id="10387" type="CITY" weightage="20" keywordseo="Microsoft">Microsoft</keyword> became the world’s most valued company under his leadership. </li><li>And it comes as no surprise that he was named the Fortune’s Businessperson of the Year in 2019 -- the very organisation that questioned his abilities earlier. </li></ul>When Satya Nadella became Microsoft CEO on March 27, 2014, the company was losing its steam. Microsoft 8 was a sore disappointment, attrition was high, operations were haywire and more importantly-- it was losing consumer trust. It was the first time in the history of the company that no founding member was running it. But Satya Nadella’s entry turned out to be an unexpected game changer. According to Fortune, he overcame the challenge of assembling the right team — sorting out the dog-eat-dog culture in a company of 130,000. Soon after he did that, everything else fell into place. “I don’t know of any other software company in the history of technology that fell onto hard times and has recovered so well,” says Reed Hastings, CEO of Netflix Inc. Here’s how Satya Nadella turned Microsoft around: 
	
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Microsoft’s Satya Nadella, the CEO of the world’s most valued company and Fortune’s businessmen of the year

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="http://news.microsoft.com/?attachment_id=52503">Microsoft</a>Microsoft CEO Satya Nadella</div></div></div>Microsoft CEO Satya Nadella will be one of the select few in the crowd at President Obama's final <a href="http://www.businessinsider.com/barack-obama-today-show-state-of-union-2016-1">State of the Union address</a> tonight, as an invited guest of First Lady Michelle Obama.Nadella will be the only business leader in attendance, we hear."Satya is honored to attend the 2016 State of the Union and learn more about the president's vision for America's future," says a Microsoft spokesperson.As <a href="http://money.cnn.com/2016/01/12/technology/microsoft-ceo-satya-nadella-state-of-the-union/">CNN Money reports</a>, President Obama is going to discuss the importance of computer science and engineering education to young Americans.Given Microsoft's <a href="http://www.v3.co.uk/v3-uk/news/2415627/microsoft-launches-minecraft-education-site-to-boost-stem-studies">investments and donations in that area</a>, Nadella fits right in to that agenda.Similarly, Obama is expected to talk about the importance of parental leave, which Microsoft recently expanded to include a 12-month paternity leave. And so, expect President Obama to shout Nadella out publicly, as an example of everything he's asking for in the world of business. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/presidency-ages-you-admnistration-barack-obama-george-bush-bill-clinton-2016-1">Here's how much the presidency ages you</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="VqMmE1MDE6F7KDLqrmSpersKacqMu2bu" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Michelle Obama invited Microsoft CEO Satya Nadella to the State of the Union tonight

<div class="KonaFilter image-container display-table lead-image-large"><div><div class="image on-image">REUTERS/Robert GalbraithMicrosoft CEO Satya Nadella speaks to members of the media at a Microsoft event in San Francisco, California March 27, 2014.</div></div></div>The sheer <a href="https://www.fastcompany.com/40457458/satya-nadella-rewrites-microsofts-code">number of books</a> contained in Satya Nadella's corner office highlight how much he reads - both pages and screens are indispensable parts of his life. The CEO of Microsoft, <a href="https://www.businessinsider.com/microsoft-earnings-q4-fy-2019-7?utm_source=markets&amp;utm_medium=ingest">the most valuable company in the world</a>, grounds himself and Microsoft's culture on ideas he's learned thanks to his reading habit. The principles he derived from psychological and historical titles like <a href="https://www.amazon.com/Mindset-Psychology-Carol-S-Dweck/dp/0345472322/ref=as_li_ss_tl?s=books&amp;ie=UTF8&amp;qid=1505352476&amp;sr=1-1&amp;keywords=Mindset:+The+New+Psychology+of+Success&amp;linkCode=ll1&amp;linkId=e315be069524d866fba8a3553c77ed1d">"Mindset" by Carol Dweck</a> continue to define his tenure as CEO. "I read a few pages here or a few pages there," Nadella <a href="https://www.fastcompany.com/40457458/satya-nadella-rewrites-microsofts-code">told Fast Company</a>. "There are a few books, of course, that you read end-to-end. But without books I can't live."Nadella's time as CEO was initially shaped by Marshall Rosenberg's <a href="https://www.amazon.com/Nonviolent-Communication-Language-Life-Changing-Relationships/dp/189200528X/ref=as_li_ss_tl?s=books&amp;ie=UTF8&amp;qid=1505352502&amp;sr=1-1&amp;keywords=Nonviolent+Communication&amp;linkCode=ll1&amp;linkId=98e9ab7c3f100375ab0edcd2f2c9b608">Nonviolent Communication</a>, which he asked his top executives to read. This was the first indicator to senior leadership that Nadella would not operate like his predecessors. In <a href="https://www.cnet.com/news/nadella-summons-nietzsche-in-pledging-pivot-to-the-future/">his second earnings call</a>, Nadella borrowed a phrase from <a href="https://books.google.com/books?id=blfwSlxhjvAC&amp;pg=PA558&amp;lpg=PA558&amp;dq=courage+in+the+face+of+reality+nietzsche&amp;source=bl&amp;ots=kqXpl7RAIK&amp;sig=ztbt7bIYPJ7Il_8fJTfVEhrkaRw&amp;hl=en&amp;sa=X&amp;ei=941ZU9eNOYyfyASkjoKwAg&amp;ved=0CE4Q6AEwBw#v=onepage&amp;q=courage%20in%20the%20face%20of%20reality%20nietzsche&amp;f=false">Friedrich Nietzsche</a> by saying that investors could expect "courage in the face of reality" from Microsoft. We've compiled in the following list for anyone who wants to start reading, or quoting literature, like Satya Nadella. Get the latest Microsoft stock price<a href="http://markets.businessinsider.com/stock/MSFT-Quote"> here.</a>

Microsoft CEO Satya Nadella recommends reading these 10 books to achieve greatness in and out of the office

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="http://news.microsoft.com/?attachment_id=134653">Microsoft</a>Microsoft CEO Satya Nadella</div></div></div>Microsoft CEO Satya Nadella is returning to the Grace Hopper Celebration of Women in Computing (GHC for short), to be held in Houston this week. But this time, he'll only be in the audience. Last year, Microsoft CEO Satya Nadella spoke on stage at the Grace Hopper Celebration - and <a href="http://www.businessinsider.com/microsoft-ceo-satya-nadella-to-women-dont-ask-for-a-raise-trust-karma-2014-10">ended up in hot water</a>.This year, Nadella and other Microsoft execs will be in attendance at the Grace Hopper Celebration, but not to speak.A Microsoft spokesperson clarifies that contrary to earlier media reports, Nadella wasn't offered a slot on stage, and he didn't ask for one. <h2>"It's good karma"</h2>At last year's event, when asked his advice for women who are uncomfortable asking for a raise, Nadella said: "It's not really about asking for a raise, but knowing and having faith that the system will give you the right raise ... It's good karma. It will come back."Nadella <a href="http://www.businessinsider.com/satya-nadella-apologizes-women-pay-2014-10">quickly apologized</a>, saying that he "answered the question all wrong," and that "without a doubt I wholeheartedly support programs at Microsoft and in the industry that bring more women into technology and close the pay gap."This year, Nadella and company will be there simply to soak it all in and learn as much as they can from GHC's 12,000 attendees. A Microsoft spokesperson says that the company doesn't want to take the focus away from those who are speaking, including one of the first public appearances from Facebook COO Sheryl Sandberg after the untimely passing of her husband over the summer. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/hololens-for-med-students-2015-7">How Microsoft will radically transform the medical industry</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="Zhamg0djo9TJYOIclMb16Re4UJqpmbwO" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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