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		Mukesh Ambani -42nd AGM</div></div>

Mukesh Ambani, the chairman of the group announced that Saudi Aramco will invest to take a 20% stake in the group's oil to chemicals (O2C) business at a $75 billion enterprise value.

Mukesh Ambani -42nd AGM

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	Reliance Industries (RIL), the oil-to-telecom conglomerate, made a slew of announcements at its 42nd annual general meeting (AGM) today. Mukesh Ambani, the chairman of the group first announced that Saudi Aramco will acquire a 20 per cent stake the group&#39;s oil to chemicals (O2C) business at an enterprise value of $75 billion. Further, the company announced that it aims to become debt-free company in the next 18 months and plans to list Reliance Jio and its retail business in the next five years.&nbsp;<br />
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	As expected, Mukesh Ambani announced commercial launch of Jio GigaFiber on September 5, 2019 - the third anniversary of Reliance Jio. The plans, Ambani said, will range from Rs 700 to Rs 10,000 per month.&nbsp;<br />
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	That apart, the company said Jio&#39;s commercial IoT (internet of things) services will be available from January 1, 2020. It also announced that the company will complete Jio Fiber roll out in 12 months.&nbsp;</div>
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	At the bourses, RIL has underperformed the market in the quarter ended June 30, 2019 by falling 8 per cent as compared to around 2 per cent rise in the benchmark S&P BSE Sensex. On the financial front, the company had posted a 6.8 per cent increase in its net profit at Rs 10,104 crore for the June quarter on the back of a record 22 per cent jump in revenue at Rs 1.72 trillion. Consolidated debt as of June 2019 was at Rs 2.88 trillion compared to Rs 2.87 trillion as of March 2019. <a href="https://www.business-standard.com/article/companies/ril-q1-net-up-7-at-rs-10-104-crore-jio-retail-boost-revenues-by-22-119072000084_1.html" target="_blank"><strong>CLICK TO READ FULL ARTICLE</strong></a></div>
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RIL AGM: Jio GigaFiber services from Sept 5; Aramco to invest $15 billion

Business Standard

RIL AGM: Jio GigaFiber services from Sept 5; Aramco to invest $15 billion | News on Markets - Business Standard

NEWS ALERT | Jio has become the second largest telecom operator in the world: Mukesh Ambani

NEWS ALERT | We are signing up more than 10 million Jio customers every month: Mukesh Ambani

NEWS ALERT | Jio is ideally placed to earn significant part of digital economy growth: Mukesh Ambani

NEWS ALERT |Saudi Aramco to invest for a 20% stake in RIL's O2C business at an enterprise value of $75 bn

NEWS ALERT | Saudi Aramco to invest in Reliance for a 20% stake in RIL's oil to chemical division: Mukesh Ambani

NEWS ALERT | Saudi Aramco, RIL agree to form long-term partnership: Mukesh Ambani

NEWS ALERT | Reliance Jio  crossed the 340 million subscriber mark in FY19: Mukesh Ambani

-- Jio to remain the world&rsquo;s fastest growing digital services company

NEWS ALERT | RIL's Oil to Chemicals business clocked revenue of 5.7 lakh crore: Mukesh Ambani

NEWS ALERT | Fundamentals of Indian economy are very strong: Mukesh Ambani

NEWS ALERT | Jio and Retail have proved the sceptics wrong: Mukesh Ambani

NEWS ALERT | I see India becoming $10 trillion economy by 2030: Mukesh Ambani, CMD, RIL at 42nd AGM

NEWS ALERT | We are incubating new growth engines into Reliance Industries: Mukesh Ambani

NEWS ALERT | During FY19, RIL became India's largest and most profitable company in private, public sector: Mukesh Ambani

NEWS ALERT | RIL contributed 9.8% towards India's merchandise export in FY19: Mukesh Ambani

NEWS ALERT | Jio has become digital gateway of India: Mukesh Ambani at 42nd AGM