What Mukesh Ambani did with 5G is a big announcement

The 43rd AGM of Reliance Industries was held online this time in view of the Corona crisis. Millions of Reliance shareholders attended the meeting through various virtual platforms.

Recent months have seen a huge surge in data traffic due to the Corona epidemic. Geo's mobile broadband network is huge and delivered 500 crore GB of data last month, Ambani said.

Other key points of Mukesh Ambani's speech

- During the meeting, Mukesh Ambani said, Corona virus has become a big challenge but India and the world will come out of it quickly and grow well.
- Mukesh Ambani said, there are opportunities in times of crisis. RIL's market cap has crossed 150 150 billion.

Reliance Industries has received a total of Rs 30,062 crore from four other investors for the sale of a partial stake in the group company Jio Platforms. Earlier, the company had said that it had received the transaction money for the share of Jio Platforms with Facebook. In a communication sent to the stock market on Saturday, Reliance Industries said that it has struck a deal to sell its 6.13 percent stake in Jio Platforms to El Catarton, The Public Investment Fund, Silver Lake and General Atlantic.

Reliance has so far sold a total of 25.09 per cent stake in its digital unit to various stakeholders. For this, it has done deals worth Rs 1,17,588.45 crore with a total of 11 investors including Facebook. The company first struck a deal with big investor Facebook. It received Rs 43,574 crore for the deal from Jadoo Holdings LLC, a wholly owned entity of FaceGook.

The company then said on 7 July that Jio Platforms Ltd has allotted 9.99 percent equity shares to Jadoo Holdings. The company said that it has now paid Rs 1,894.50 crore for a 0.39 per cent stake in InterCetaler Platform Holdings Pvt Ltd of El Caterton. At the same time, The Public Investment Fund paid Rs 11,367 crore for 2.32 percent stake of Jio Platforms.

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