Reliance Industries AGM 2023: The billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) is set to hold its Annual General Meeting (AGM) of shareholders on August 28, 2023. This is RIL’s 46th AGM and is being held after the Jio Financial Services was listed on stock exchanges earlier this month.
The energy-to-telecom conglomerate RIL AGM will be conducted through Video Conferencing and Other Audio-Visual Means.
“This is to inform that the Forty-sixth Annual General Meeting (Post-lPO) of the Members of the Company will be held on Monday, August 28, 2023 at 2:00 p.m. (IST) through Video Conferencing (VC) / Other Audio-Visual Means (OAVM), in accordance with the applicable circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India,” RIL had informed exchanges earlier this month.
Also Read: Reliance Industries AGM to take place on 28 August
Reliance Industries Chairman Mukesh Ambani will deliver his address to the shareholders in the AGM wherein market participants will look for any new announcements and commentary on Jio Financial Services, new energy, further value unlocking and telco and retail business IPO timelines, among many other things.
Here are key details about Reliance Industries AGM 2023
RIL AGM 2023 Date: Reliance Industries 46th AGM will be held on Monday, August 28, 2023.
RIL AGM 2023 Time: Reliance Industries had earlier announced that its upcoming AGM will begin at 2 pm on August 28.
Where to watch RIL AGM 2023: RIL’s 46th AGM will be held through Video Conferencing (VC) / Other Audio-Visual Means (OAVM).
Investors can log in to the link provided by the company – https://jiomeet.jio.com/rilagm/
This will be RIL’s first AGM after the listing of Jio Financial Services (JFSL) shares on the stock exchanges.
JFSL was demerged from Reliance Industries and it made a stock market debut on August 21 with the shares listing at ₹265 apiece on the BSE and ₹262 per share on the NSE as compared to its discovered price of ₹261.85 apiece.
Any commentary on the business plans of JFSL in the AGM will be keenly watched by investors.
Also Read: Reliance Industries shares volatile as all eyes on 46th AGM; experts positive on the stock
Meanwhile, The FY23 annual report of Reliance Industries throws up some interesting data points: i) Capex of ₹1.4 trillion had grown by a material ₹423 billion in FY23, ii) resultant, net debt expanded sharply to ₹1.05 trillion, despite a material ₹428 billion of increase in cash + equivalents for the year, iii) net working capital (excluding cash) increased by ₹220 billion, driven by a sharp uptick in inventories, iv) FCF generation remains elusive, despite sharply higher profitability – FCF yield of negative 1.2% versus an average negative yield of 3.6% over FY21-22.
At 12:50 pm, Reliance share price was trading 0.23% lower at ₹2,472.85 apiece on the BSE.
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Updated: 25 Aug 2023, 12:51 PM IST
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