Reliance Industries, India's most valuable company, will hold its first online AGM today and it promises to be a much bigger affair with a brand-new virtual platform that can log more than 1 lakh shareholders from 500 locations simultaneously.
AGM will showcase multiple first on a real-time basis - including a two-way live streaming and a brand-new virtual platform that enables more than 1 lakh shareholders from 500 locations, in India and overseas, to log in simultaneously.
Reliance had so far held all in its annual general meeting (AGM) physically with shareholders outside Mumbai could never attend the annual event. They can now simply log into the event live, can listen to the plans and initiatives and comment and participate too.
Over the years, the AGMs got shifted to auditoriums even as its shareholder base swelled to over 26 lakh.
And now the upcoming AGM will be virtual, where shareholders will be able to watch the AGM, ask questions to the chairman and vote – all aided by technology, in line with RIL''s current focus, the sources said.
By going online, RIL is bringing together its highly widespread shareholding of 26 lakh.
In addition to shareholders in India, those in other countries like the US, UK, Canada UAE, Japan, HongKong, Singapore, Malaysia, and Australia will log in, they said.
Platforms and capabilities to stitch the mega-AGM include video conferencing, the Jio Meet platform, Cisco Webex, and commercial webcast.
All directors, key officials, and shareholder speakers will be visible and audible and thousands of shareholders will be able to post their questions and eVote on resolutions.
Reliance secured over Rs 1.18 lakh crore from global tech investors, including Facebook, by selling 25.24 percent of its digital business and raised Rs 53,124 crore by selling shares to existing investors.
Taken together with last year's sale of 49 percent stake in fuel retailing venture to BP Plc of UK for Rs 7,000 crore, the total fund raised is in excess of Rs 1.75 lakh crore, the company had said last month.
Reliance had a net debt of Rs 1,61,035 crore as on 31 March 2020. "With these investments, RIL has become net-debt free," it had said.
At the last AGM, Ambani had also announced plans to sell a USD 15 billion stakes in his group's oil-to-chemical business to Saudi Arabian Oil Co but the deal has got slightly delayed.
ChatbotFor easy onboarding of its shareholders, RIL has launched an educative Chatbot via Whatsapp number +91-79771-11111 to nuance processing of logging in, asking questions, and voting on the resolution.
The Chatbot is equipped to answer queries and guide shareholders, prospective investors, media, and the general public with accurate and immediate information on the AGM. A Chatbot works as 24x7 helpdesk, but this one can handle 50,000 querists simultaneously via conversational text and video, they said.
Where to watch Mukesh Ambani’s speech in 43rd RIL AGM meet:
* You can log in through a Chatbot assistant, which is powered by Haptik, on WhatsApp to attend the RIL AGM.
* You will have to send “Hi” to +917977111111 to access the Reliance Industries’ AGM WhatsApp Chatbot Assistant.
* Before that, you can save the number on your phone.
* You will get a menu of options via an instant message after you send the keyword to the Chatbot Assistant. After that, you can select the relevant option number to proceed.
* The company will also broadcast the AGM through its Flame of Truth and Jio channels on YouTube.
* It will also be streamed on RIL’s Facebook profile and Twitter handle.
* Shareholders will also be able to access the live-stream through RIL’s JioMeet link.