5 Big Market Moves Expected from Reliance AGM 2024 After Disney Deal

Reliance Industries’ Annual General Meeting (AGM) 2024 is scheduled for today, August 29, 2024, at 2:00 PM. After announcing a joint venture with Disney, the market is eagerly awaiting major updates from the Mukesh Ambani-led company. Key topics expected to be discussed include the potential IPOs for Reliance Jio and Reliance Retail and other significant business moves.

What to Expect from Reliance AGM 2024:

1. Reliance Jio and Reliance Retail IPOs:
   The market is eagerly awaiting news on the initial public offerings (IPOs) for Reliance Jio and Reliance Retail. Back in 2019, it was announced that these IPOs would be listed within five years. With that timeline coming to an end, investors are looking for a concrete timeline on when these IPOs will hit the market. According to global brokerage Jefferies, the Reliance Jio IPO might be listed in 2025, with an estimated market value of $112 billion.
2. Sale of Stakes in Oil-to-Chemical Business:
   Investors are also expecting updates on the sale of stakes in Reliance’s oil-to-chemical (O2C) business. There may be details about potential buyers or bids for this part of the company.
3. Focus on New Energy Projects:
   Mukesh Ambani is pushing hard into the new energy sector. In the fiscal year 2024, Reliance invested $1 billion in solar manufacturing. The market is keen to hear more about future plans and further investments in this sector.
4. 5G Network Rollout:
   The company’s 5G rollout is another focus area. Investors are looking for details on the growth and monetization plans for the 5G business and how quickly the company expects to expand in the next financial year.
5. Leadership Succession Plans:
   Market watchers are also interested in hearing about succession plans within Reliance. Previously, it was revealed that Mukesh Ambani’s children will take leadership roles: Isha Ambani for Reliance Retail, Akash Ambani for Reliance Jio, and Anant Ambani for the energy business. Updates on these plans are expected at the AGM.

Overall, today’s Reliance AGM is set to be a significant event with potential major announcements that could impact the company’s future and the broader market.