As many as 3.2 lakh shareholders attended the meeting on the newly-minted JioMeet platform from 550 cities in 48 countries.
This is the second investment by General Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.
Abu Dhabi-based sovereign wealth fund Mubadala Investment Co will invest Rs 6,247.5 crore to buy a 1.4 per cent stake in Reliance Industries Ltd's retail arm -- the billionaire Mukesh Ambani-led firm's third such deal in less than two days.
Record equity divestment by the Reliance Group in its telecom and retail businesses garnering around $23 billion revved up the deal street in 2020, which otherwise would have gone down as one of the dullest on record, and dealmakers are seeing sunnier days in 2021 given the large scope for consolidation in a slew of sectors ravaged by the pandemic. With Jio Platforms alone garnering over $16 billion (Rs 1,18,318 crore) by selling 25.24 per cent stake and Reliance Retail notching up $6.4 billion (Rs 47,265 crore) by divesting around 9 per cent shareholding, the deal street signed off with $85 billion in the deal kitty across 1,270 transactions. This is higher by about 10 per cent over 2019. What is significant is that over a third of the total deal value came from Reliance transactions, say investment bankers.
In a regulatory filing, Reliance -- the country's most valuable company - said, 'The 43rd AGM will be held on Wednesday, July 15, 2020 at 2 pm though video conferencing / other audio-visual means.'
With RIL's market capitalisation crossing the Rs 11-trillion mark on Friday, Ambani is ahead of Google co-founders Larry Page and Sergey Brin, the 10th and 11th richest, respectively, and behind Zara founder Amancio Ortega on the Forbes Real-time Billionaires List.
The three companies for sale are Reliance Communications, Reliance Telecom and Reliance Infratel.
Private equity and venture capital investments more than halved to $3.6 billion in May 2021 when compared to the preceding April's $7.5 billion and a third lower than the year-ago period's $5.4 billion, a report said on Monday. However, on a year to date basis, the venture investments by these two categories of investors have doubled to $20 billion for the first five months of 2021, the report by industry lobby IVCA and consultancy firm EY said, stressing that investors continue to remain bullish. It can be noted that the country underwent the ravages of the second wave of the pandemic since April this year.
According to the IVCA-EY report, July recorded 10 large deals worth $3.1 billion compared to 13 large deals worth $7.1 billion in July 2019.
Although Walmart-Flipkart wholesale game-plan is to target about a $150 billion market out of a total pie of $700 billion in the country, the consolidation marks the end of the multi-brand dream of the American retail giant.
All directors, key officials, and shareholder speakers will be visible and audible and thousands of shareholders, including those from the US, UK, Canada UAE, Japan, HongKong, Singapore, Malaysia, and Australia, will be able to post their questions and eVote on resolutions.
Move comes in view of big debt overhang in two sectors; companies unwilling.
Move comes in view of big debt overhang in two sectors; companies unwilling.
$47.6 bn capital invested across 921 deals in India in 2020, despite pandemic.
'The government wants foreign companies to capture the insurance market.'
Manu Kumar Jain, vice-president, Xiaomi, and managing director, Xiaomi India, shares his thoughts with Arnab Dutta on how the firm has put India on the forefront.
As economic policy making moves from pragmatism to populism, the bulls begin to make way for cautious optimists.
Inflation is down, growth is headed for recovery. RIL and subsidiary Jio are on an upswing. However, stressed loans and impending job losses are the dark clouds, says Devangshu Datta.
Reliance announced energy asset sales worth around $ 16 billion; end of the investment cycle in telecom; bringing net-debt to zero in 18 months; value-unlocking options for real estate and financial assets; listing of telecom and retail in five years; and focus on dividends.
BSE Midcap and BSE Smallcap indices hit their fresh lifetime highs for the second day in a row
ONGC was the top performer while private banking major ICICI Bank extended gains
Rumours about a spike in taxes for equity investors are flying thick and fast.
Benchmark share indices gained for the fifth straight session on Thursday led by index heavyweight Reliance Industries.
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