Reliance Industries (RIL) annual general meeting (AGM) had several stunning announcements. RIL looks to list Jio Platforms (JPL) by June 2026. It targets doubling of FY22 earnings before interest, taxes, depreciation and amortisation (Ebitda) (Rs 1.25 trillion; $14.6 billion) by FY27 implying 14.7 per cent compound annual growth rate (CAGR) over the FY22 levels.
About 55 banks participated in the deal, making it the largest bank group for a syndicated loan in Asia so far this year.
The fate of US $ 245-million (approx. Rs 1,356 crore at current exchange rates) chlorinated polyvinyl chloride (CPVC) unit, proposed to be set up through a joint venture between billionaire investor Warren Buffet's firm, Lubrizol Corporation and Ahmedabad-based Astral Poly Technik Ltd, is hanging in the balance as there is no progress on the project since the announcement was made in September last year.
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