RIL AGM 2020 key highlights | Google investment in Jio Platforms; JioMart, Jio 5G, JioTV+, Jio Glass, JioMeet, catch all the developments here

Updated : July 15, 2020 04:45 PM IST

Reliance Industries Chairman Mukesh Ambani announced that Google will invest Rs 33,737 crore for a 7.7 percent stake in Jio Platform. This makes it the 14th investment in Jio Platforms in less than 3 months.

Speaking at RIL's 43rd annual general meet, Ambani said that it welcomes a new strategic partnership with Google. He added that including Google the company has raised Rs 1,52,056 crore in last few months from strategic investments.

He further said that the company has also concluded its JV with BP. RIL is now a truly a net debt-free company, he said.

In the last 12 weeks, the company has raised capital from investors such as Facebook, Silver Lake Partners (two investments), Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, PIF, Intel Capital and Qualcomm Ventures.

Reliance completes fund raising drive with Google investment, raises Rs 1.52 lakh crore

After 13 mega investments in Reliance Industries' telecom arm Jio Platforms, Google joins the ride to invest Rs 33,737 crore for a 7.7 percent stake, says Chairman and Managing Director Mukesh Ambani.

Mukesh Ambani's Jio Platforms has roped in Google, which makes Jio Platforms a firm that has investment from two of the leading tech companies in the world -- Google and Facebook.

After Google's investment, the oil-to-telecom conglomerate has raised a combined of Rs 1,52,056 crore, the largest investment till-date in the history of capital market in India.

'RIL is now truly a net debt free company ahead of schedule,' added Ambani.

Facebook remains the biggest investor for Jio, with 9.99 percent stake for Rs 43,574 crore.

JioMeet built in 2 months; crosses over 5 million downloads, says Mukesh Ambani

The recently-launched JioMeet, a high definition video conferencing application, was built in 2 months and already crossed over 5 million users since the launch, said Reliance Industries Chairman Mukesh Ambani.

Speaking at its annual general meeting (AGM) on Wednesday, Ambani said that JioMeet is India's first cloud-based video-conferencing application.

Within just two weeks of launch, over 5 million users have downloaded the app, Ambani said.

JioMeet supports scheduling meetings and screen sharing among other features. It is free to use.

Amid the ongoing coronavirus pandemic, more than a lakh shareholders from 500 locations, in India and overseas, joined in the AGM.

Reliance launches Jio Glass, to provide mixed reality services

Reliance Jio has launched its latest innovation, Jio Glass, a new mixed reality headset, which will enable holographic video calling.

At its Annual General Meeting on Wednesday, the company announced that Jio Glass is at the cutting edge of technology that provides best-in-class Mixed Reality services to give users a truly meaningful immersive experience.

The glass weighs only 75 grams and offers best in class, immersive mixed reality services. It remains connected by a single-cable and already has 25 apps that allow augmented reality video meetings and more.

The technology gives 3D virtual chats rooms and can conduct holographic meetings through Jio Mixed Reality cloud in real-time.

Mukesh Ambani launches JioTV+ with integrated content from 12 OTT platforms

Reliance Industries during its 43rd Annual General Meeting announced the launch of JioTV+.

Jio TV+ will curate OTT platforms such as Netflix, Amazon Prime, Disney+ Hotstar, Voot, SonyLiv, Zee5, JioCinema, JioSaavn, YouTube, among others, into one app. It will be voice-search enabled.

Additionally, Jio also confirmed Google investment during the AGM.

Google will invest Rs 33,737 crore for a 7.8 percent stake in Jio Platforms Limited, becoming the latest A-list investor in the digital unit of Reliance Industries (RIL).

RIL receives strong interest from strategic and financial investors to invest in Reliance Retail, says Mukesh Ambani

After Jio Platform, Reliance Retail may the next big investment driver for RIL. Addressing shareholders, Mukesh Ambani said that the company has received interest from strategic and financial investors to invest in Reliance Retail and he would induct global and strategic partners into the business.

Speaking about JioMart Mukesh Ambani said that the success of JioMart has led to over 250,000 orders a day within a few weeks of its launch. JioMart is a tech-enabled partnership that will link producers, traders, small merchants, consumer brands and consumers.

"Within a few weeks of launch, we have reached over 250,000 orders a day and the numbers continue to grow each day. JioMart is now focused on scaling its geographical reach and delivery capabilities. In addition to grocery, we will expand JioMart to cover electronics, fashion, pharmaceutical and healthcare in the days ahead. In the coming years, we will cover many more cities, serve many more customers across India, and expand to many more categories. We will reduce inefficiencies thereby creating more value for everyone in the retail ecosystem;" he said.

Jio has developed made-in-India 5G platform, says Mukesh Ambani

Reliance Jio has developed made-in-India 5G platform, said Mukesh Ambani. The new platform developed from scratch will enable Jio to launch a world-class 5G service in India, Ambani said while addressing the first-ever virtual annual general meeting of Reliance Industries.

Once the platform has achieved scale, Jio will start offering the 5G network infrastructure services to telecom services.

This was among several key announcements were made during the event including Google's plan to invest Rs 33,737 crore in Jio Platforms for 7.7% stake.

Further, the launch of Jio Glass and Jio TV Plus was also announced. Ambani in his address also stressed on the progress the conglomerate made in achieving its various objectives despite challenges including the spread of coronavirus and lockdown.

Published : July 15, 2020 03:34 PM IST

RIL AGM 2020 key highlights | Google investment in Jio Platforms; JioMart, Jio 5G, JioTV+, Jio Glass, JioMeet, catch all the developments here

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