Reliance Industries Limited AGM Conduct On 15th July,2020 Though Video Conferencing

Description

Reliance Retail Limited is a subsusidiary company of Reliance Industries Limited. In a regulatory filing, RIL -the country's most valueable company-said "the 43rd AGM will be held on Wednesday , July 15,2020 at 2 pm though video conferencing / other audio-visual means."

Des

AGM preview - what should one look out for after the big de-leveraging exercise: RIL is due to hold its AGM on 15 July this year. Unlike other companies, investors closely watch RIL's AGM, as the chairman lays out the company strategy, makes new announcements and gives key business updates at the AGM each year. Last year's AGM was about making the company net debt free, and we have seen —$20bn of stake sale/equity issuances since then. In our view, with Jio Platforms' (JPL) stake sale broadly done for the time being, the focus could shift to Reliance Retail and whether the company announces any new strategic partner for Reliance Retail. Given the annual report (Reliance Industries Ltd: AR Quick Takeaways - Jio Mart-FB-Retail Partnership: Jio Platforms: Not Many Details on Monetization) had comments on Reliance Retail's digital initiative, Jio Mart rollout and the Reliance Retail-WhatsApp-Jio Platforms partnership, we expect more detail on JioMart's rollout at the upcoming AGM. There have been reports in the media (e.g., Bloomberg) about RIL looking to acquire more retail assets (Future Group assets were mentioned in the reports). As the Jio Platforms stake sale seems broadly done, the focus has now shifted to its potential listing for Jio Platforms and Reliance Retail.

Sandip Ginodia , CEO

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