Mukesh Ambani is trying to hit two birds with one stone through the value-unlocking exercise across RIL’s businesses, in which he had invested over ₹5.4 lakh crore in the last five years, of which ₹3.5 lakh crore has been invested in Reliance Jio alone.
The company will also evaluate value-unlocking options for its real estate and financial investments.
In the coming years, RIL will be selling a significant minority stakes in its consumer-facing businesses on the lines of the Aramco deal to deleverage its balance sheet, which is a concern among the investors. India’s richest man also announced the most-awaited launch of Jio Fiber on September 5, offering customers free calls for life, LED TV, set-top box and ‘first-day-first show’ movies in their living rooms.
In his speech titled ‘New Reliance for a New India,’ Mr. Ambani said, “On the strength of our existing and new growth engines, I am confident that we can grow this by 15% annually over the next five years.”
“Responding to the honourable PM's appeal, we stand committed to support the people of Jammu & Kashmir and Ladakh in all their developmental needs.”
Rewarding shareholders
On becoming a net zero-debt company, Mr. Ambani assured that he would reward shareholders through higher dividends, periodic bonus issues and other means, and at a more accelerated pace.
