Reliance Industries Ltd has raised a record Rs 3.24 lakh crore in capital from stake sale in units, rights issue and asset monetisation, its chairman Mukesh Ambani said Thursday.
Addressing shareholders, he said the company raised Rs 3,24,432 crore capital through the sale of stake in digital unit Jio Platforms and retail venture, rights issue and asset monetisation.
Ambani on Thursday announced 'JioPhone Next', a power-packed affordable smartphone that has been jointly developed by Jio and tech titan Google.
JioPhone Next will be available from September 10, and will be the most affordable smartphone globally.
Read the full text of Ambani's speech here
My Dear Shareowners,
A very warm welcome to each and every one of you. It gives me great pleasure to greet you all at the 44th Annual General Meeting of Reliance Industries Limited.
It is the second year in a row that I miss the intimacy and warmth of face-to-face interaction with you, because of the COVID pandemic. However, the virtual format has enabled several lakhs of our shareholders to participate in the AGM from the safety of their homes.
We are in the midst of a humanitarian crisis. Its scale, severity and geographical spread are unseen in a century. It has filled the hearts of all Indians with enormous pain and grief.
Several of our employees and shareholders have borne the brunt of this pandemic. Within our one large Reliance Family, the suffering of any member becomes suffering of all.
Today, Nita, I, and my colleagues on the Board offer our heartfelt condolences to all those in our Reliance Family who have lost their loved ones to this pandemic.
I now request that all of us observe a minute of silence in memory of the departed souls.
The Company's accounts for the year ended March 31, 2021 have already been circulated to you. With your permission, I would like to take them as read.
Our business performance and financial success since the last AGM have exceeded our expectations, despite the pandemic. But I shall come to that later in my address.
What has given me far greater happiness than our business performance is Reliance's humanitarian efforts during these exceedingly difficult times. I feel both proud and humbled to share with you that throughout the COVID crisis, our Reliance Family has risen to the occasion with a sense of purpose and national duty. Our entire organisation has become energised with the spirit of service.
Every single employee has participated – directly or indirectly – in the Fight against COVID and become a Goodwill Ambassador of Reliance.
I am sure our efforts of the last one year would have made our Founding Chairman, Shri Dhirubhai Ambani, proud, because, the one common, unifying thread that runs through everything we have ever done at Reliance is the spirit of CARE and EMPATHY.
WE CARE for our Employees and their Families. WE CARE for our Customers, our Shareholders, and our Partners. WE CARE for the Country and the Community.
WE CARE for the Planet and the People.
This is what the true Reliance spirit was, is, and will always be. I now invite Isha, Akash and Nita to tell us about our COVID Missions of Reliance and the wonderful work done by all our colleagues.