Reliance AGM 2024 today: Jio to Retail IPO — top 5 market expectations after Disney JV

Reliance AGM 2024: After announcing a Joint Venture (JV) with Disney, the Indian stock market is expected to follow the Annual General Meeting (AGM) developments. The Mukesh Ambani-owned conglomerate has already 29fixed the Reliance AGM 2024 date on 29th August 2024, i.e. today. The 47th Reliance AGM will kickstart at 2:00 PM today. In this Reliance AGM today, the Sensex heavyweight is expected to discuss Reliance Jio's and Reliance Retail's demerger from Reliance Industries. So, the market is expecting some concrete announcements on Reliance Jio IPO and Reliance Retail IPO in the upcoming AGM.

According to stock market experts, Mukesh Ambani may announce a timeline for listing Reliance Retail IPO and Reliance Jio IPO while addressing the 3.50 million shareholders of Reliance Industries Ltd (RIL). They said potential public listings of Reliance's digital and retail units and updates on the progress of new energy projects will be in focus during Mukesh Ambani's speech at Reliance AGM 2024 on Thursday.

Speaking on the Reliance AGM 2024, Avinash Gorakshkar, Head of Research at Profitmart Securities, said, "RIL Chairman Mukesh Ambani has a history of making big announcements at Reliance AGM. So, the market expects some concrete blueprint from Reliance AGM on the timeline for listing Reliance Jio IPO and Reliance Retail IPO. So, the market is expecting much more than the mere announcement of the demerger of Reliance Jio and Reliance Retail business from RIL."

Reliance AGM 2024: Top five market expectations

Here we list out the top five market expectations from the 47th Reliance AGM 2024:

1] Reliance Jio IPO and Reliance Retail IPO: "In Reliance AGM 2019, it was declared that Reliance Retail IPO and Reliance Jio IPO will be listed on the Indian bourses within five years. So, after a gap of five years, the market expects the announcement of the timeline for listing these two upcoming IPOs to be genuine," said Avinash Gorakshkar.

Global brokerage Jefferies has predicted Reliance Jio IPO's listing in 2025 with an estimated market value of $112 billion.

2] Stake sale in oil-to-chemical business: The market is expecting the company to announce a concrete strategy for selling stakes in its oil-to-chemical (O2C) business. So, details of the possible bids or buyers for the O2C stake sale are also expected in Mukesh Ambani's speech during the Reliance AGM today.

3] Focus on non-energy projects: The RIL Chairman is highly aggressive in its new energy business. In FY24, RIL allocated $1 billion in capital expenditures for its solar manufacturing business. So, the allocation of funds to this segment will be closely monitored.

4] 5G rollout: When Chairman Mikesh Ambani addresses around 3.50 million Reliance shareholders, a monetization plan for the 5G network business will be under the radar. The market expects an update on the 5G rollout growth and the rate of acceleration the company expects in the next financial year.

5] Leadership transition: Dalal Street enthusiasts will also focus on Reliance Industries' succession plans. At Reliance AGM 2022, Chairman Mukesh Ambani revealed a succession blueprint with daughter Isha Ambani leading the Reliance Retail business, sons Akash Ambani leading Reliance Jio, and Anant Ambani overseeing the Reliance Energy business.

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.