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Tag: Akash Ambani

  • Gayatri Yadav roped in as group CMO and EVP at Reliance Industries

    Gayatri Yadav roped in as group CMO and EVP at Reliance Industries

    MUMBAI: Veteran marketing leader Gayatri Yadav has joined Reliance Industries Limited as group chief marketing officer (CMO) and EVP, strategic initiatives, chairman’s office. In this role, she will collaborate closely with Mukesh Ambani, Nita Ambani, Isha Ambani, Akash Ambani, and Anant Ambani to drive brand innovation and strengthen consumer engagement.

    Gayatri, who brings over three decades of diverse experience, has held prominent positions across FMCG, media, and investment sectors. Her career includes key roles at Procter & Gamble, General Mills, and Star India, where she spearheaded major marketing strategies. Most recently, she served as CMO at Peak XV Partners (formerly Sequoia India & SEA), leading its rebranding and digital growth initiatives.

    Reflecting on her journey, Gayatri expressed gratitude for past opportunities and highlighted her excitement to contribute to Reliance’s growth-driven vision, stating: “What is good for India is good for Reliance.”

    Beyond her corporate roles, Gayatri holds board positions at Paani Foundation, United Way Mumbai, and PRS Legislative Research, underscoring her commitment to social impact.

  • Reliance Industries shareholders welcomes Isha, Anant and Akash Ambani to the board

    Reliance Industries shareholders welcomes Isha, Anant and Akash Ambani to the board

    Mumbai: Reliance Industries shareholders have approved the appointment of new leaders – Isha, Akash and Anant Ambani on the company’s board as non-executive directors.

    Shareholders have approved the appointment of Isha Ambani to the company’s board with 98.21 per cent votes cast in its favour, while Akash Ambani’s nomination garnered 98.06 per cent of the vote.

    Anant Ambani’s appointment to the company’s board received 92.75 per cent votes in favour.

    Isha Ambani was appointed the leader of Reliance Retail in August 2022, while Akash Ambani became chairman of Reliance Jio in June last year. Anant Ambani was appointed as the leader of the company’s energy vertical in August 2022.

    Reliance Industries chairman & managing director Mukesh Ambani will continue at the helm for another five years, as he had announced during the AGM.

  • Jio AirFiber set to be unveiled in September

    Jio AirFiber set to be unveiled in September

    Mumbai: Reliance Industries chairman Mukesh Ambani revealed in a virtual annual general meeting that Jio will launch Jio AirFiber, its fixed wireless access offering on 19 September. Jio, which has 50 million 5G users, shall have a pan- India coverage by December 2023. It will also be among the first globally to put 6G competencies in place, as per media reports.

    The launch of Jio AirFiber comes on the heels of its rival, Bharti Airtel launching its own device commercially, and is anticipated to swell the former’s addressable market to over 200 million high-paying homes and premises, over the next three years.

    Mukesh also brought out that “providing last-mile connectivity is a painstaking process in most parts of our country,” and that’s where the fixed-wireless broadband offering, Jio AirFiber, would play a role. Additionally, he pointed out that Jio has more than 450 million subscribers, say reports.

    As of now, the pricing of the new offering is under wraps. The new service is expected help the telco multiply its connected premises to 1,50,000 connections per day, which is a 10-fold growth from 15,000 premises a day that optical fibre would allow.

    Mukesh also underlined the in-house developed Jio 5G stack which possesses features like standalone 5G architecture, network slicing, carrier aggregation, and AI/ML capabilities.

    Jio’s 5G customer has reached 50 million since the October 2022 launch, and Jio 5G is already present in over 96 per cent of the census towns of the country.

    Reliance Jio chairman Akash Ambani also spoke about the telco building a ‘transformative platform’ which will alter the way Indian enterprises, small businesses, and tech start-ups work with the digital world.

    He also announced the Jio True5G Developer Platform – a comprehensive platform combining the 5G network, edge computing, and a spectrum of applications and services.

  • Reliance AGM 2023: Highlights key announcements at the 46th Annual General Meeting

    Reliance AGM 2023: Highlights key announcements at the 46th Annual General Meeting

    Mumbai: Reliance Industries Ltd. today in its 46th annual general meeting on 28 August 2023, just like in the previous AGMs, investors are anticipating significant revelations during this yearly event. This occasion holds added significance as it marks RIL’s inaugural AGM subsequent to the listing of Jio Financial Services (JFSL) shares on various stock exchanges.

    RIL chairman and managing director Mukesh Ambani, made a series of announcements including the company’s plans to roll out 5G services by December 2023, high-profile partnerships with Meta and Google, and the AirFiber service.

    Ambani has announced that Jio AirFiber will be launched on Ganesh Chaturthi. Also Akash Ambani has introduced Jio Smart Home services. Over the past few years, major groundbreaking declarations from the Ambani conglomerate have consistently been unveiled during the RIL AGM. Consequently, this occasion has assumed a pivotal role on Dalal Street.

    Mukesh Ambani said, “Jio Platforms is already providing end-to-end professional and managed services for all businesses of RIL group, including Telecom, Retail, Media, and Fin Services. It is ideally placed to offer these services outside the RIL group.”

    He continued, “For the first time, IPL was streamed free on JioCinema. It created a global record with a staggering 45 cr viewers tuning in. More people watched IPL on digital devices than on linear television, marking a tectonic shift.”

    It is widely anticipated that Mukesh Ambani will present a strategic plan for the financial services sector, building upon the recent $300 million collaborative agreement with BlackRock, the world’s largest asset management firm. This partnership is geared towards establishing a digital-centric approach, with the goal of making investment solutions accessible to a broader range of Indian investors.

    During the announcement of the financial results for the June quarter, Reliance Jio expressed its commitment to achieving a nationwide 5G rollout across India by the end of this year, as reiterated during the Annual General Meeting (AGM). Moreover, shareholders are keen to gain insights into the company’s investment strategies for the present year and the specific areas of concentration for its expansion endeavors.

    Reliance AGM 2023- Key things to look for:

    Plans for Jio Financial

    5G Roadmap

    Reliance Retail IPO

    Reliance Jio IPO

    Renewable energy plans

    Reliance Jio Infocomm IPO

  • Nita Ambani steps down from RIL board

    Nita Ambani steps down from RIL board

    Mumbai: In a significant development, Nita Ambani has tendered her resignation from the board of Reliance Industries Ltd (RIL). The RIL board of directors has recommended the appointment of Isha Ambani, Akash Ambani, and Anant Ambani to fill key positions on the board. Nita Ambani, while stepping down from the board, will continue her role as the chairperson of the Reliance Foundation.

    Nita Ambani’s stepping down from the board doesn’t mark her departure from the Reliance fold. This maintains her pivotal role in the philanthropic and social initiatives of the conglomerate.

    The move is anticipated to have far-reaching implications for the company’s future strategies and direction.

  • Reliance Jio to roll out 5G services in major cities by Diwali

    Reliance Jio to roll out 5G services in major cities by Diwali

    Mumbai: On Monday, at the 45th annual general meeting, Reliance Industries announced that Jio has prepared an ambitious 5G roll-out plan, which is claimed to be the fastest in the world.

    Using immersive and interactive metaverse technology, Reliance chairman Mukesh Ambani addressed the shareholders at the AGM and made the announcement.
    The chairman’s statement also said that they have made a total investment of two 2 lakh crore rupees.

    He said, “Within the next two months, by Diwali, we will launch Jio 5G across multiple key cities, including the metropolises of Delhi, Mumbai, Kolkata, and Chennai. Subsequently, we plan to increase the Jio 5G footprint month after month.”

    “By December 2023, which is less than 18 months from today, we will deliver Jio 5G to every town, every taluka, and every tehsil of our country,” he added.

    The company unveiled the AirFiber, a wireless plug-and-play 5G hotspot that does not require fibre cables and provides a personal Wi-Fi hotspot at home or in the office.

    Reliance Jio chairman Akash Ambani said, “Jio 5G is an ultra-high-speed fixed-broadband. Since you get ber-like speeds over the air without any wires, we are calling it JioAirFiber. With JioAirFiber, it will be really easy to quickly connect your home or office to Gigabit-speed Internet. We have developed a JioAirFiber Home Gateway, which is a wireless, simple, single-device solution.”

    Mukesh Ambani further added, “Digital Freedom is the birthright of every Indian. Therefore, 5G cannot remain an exclusive service, available only to the privileged few or only to those in our largest cities. To build our pan-India true 5G network, we have committed.”

    “We are working with Google to develop ultra-affordable 5G smartphones for India. We will also leverage the advanced capabilities of Google Cloud to offer Jio’s private 5G stack and other 5G-enabled solutions to both domestic and global users at scale,” said Akash Ambani.

    Jio has 421 million mobile broadband subscribers on their 4G network, and according to the company, they consume, on average, nearly 20 GB of broadband data every month, nearly doubling their consumption from the year before.

    Jio’s pan-India fibre-optic network is more than 11 lakh kilometres in length.

    “We will use our combined wireless and wireline assets to cover 3.3 million square kilometres, India’s total land mass, with fibre-quality broadband, connecting even those parts of the country where satellite technology was the only option,” said Mukesh Ambani.

    The company has deployed the Made-In-India 5G stack in their network, with sufficient capacity to serve hundreds of millions of users right from day one.

    “Using 5G technology, we can dramatically reduce latency or lag, and deliver breakthrough increases in broadband speed, network capacity, and the number of connected users,”  said Mukesh Ambani.

    According to Reliance Jio, the main objective is to roll out top-quality, highly affordable fixed broadband services to hundreds of millions of locations in a very short period of time.

    Jio believes it could expand broadband availability to further stimulate the adoption of connected intelligent solutions across all walks of life.

    Mukesh Ambani said, “We will connect over 100 million homes with unparalleled digital experiences and smart home solutions. We will catapult tens of millions of small merchants and small businesses to great heights, empowering them with cutting-edge, plug-and-play solutions delivered from the cloud. We will provide millions of medium-sized businesses with the same digital capabilities that were earlier available only to larger companies.”

    “We will accelerate the digital transformation of tens of thousands of our large enterprises and make them globally competitive. And we will launch billions of smart sensors with connected intelligence that will trigger the internet of things and fuel the fourth industrial revolution,” he concluded.

    In FY22. Reliance Industries has continued to make all-around progress across its businesses. The company became India’s first corporate to cross $100 billion in annual revenues. Reliance’s consolidated revenues grew 47 per cent to Rs 7.93 lakh crore. Reliance’s annual consolidated Ebitda crossed a crucial milestone of Rs 1.25 lakh crore.

  • Reliance to acquire franchise in South Africa’s T20 cricket league

    Reliance to acquire franchise in South Africa’s T20 cricket league

    Mumbai: In the evolving sports ecosystem, Reliance Industries is playing a crucial role by providing ownership of cricket franchises, football leagues in India, sports sponsorship, consultancy, and athlete talent management, and bringing in industry best practices. To provide a better platform, it has announced the acquisition of a franchise in Cricket South Africa’s upcoming T20 league. Based in Cape Town the new franchise will take forward the Mumbai Indians brand and comes close on the heels of acquiring the UAE-based International League T-20 team.

    Further, Reliance Foundation Sports – the CSR wing of RIL has been leading India’s olympic movement by providing opportunities to athletes across the country to become champions in multiple sports and also leading India’s charge in hosting global sporting events.

    Reliance Industries director Nita Ambani led a successful bid to host the prestigious International Olympic Committee Session in Mumbai in 2023 after a gap of 40 years.

    On this acquisition, Ambani said, “I’m delighted to welcome our new T20 team to the Reliance family! We are excited to take the Mumbai Indians’ brand of fearless and entertaining cricket to South Africa, a nation that loves cricket as much as we do in India! South Africa has a strong sporting ecosystem, and we look forward to exploring the power and potential of this collaboration. As we grow MI’s global cricketing footprint, we remain committed to spreading joy and cheer through sport!”

    Adding to it, Reliance Jio chairman Akash Ambani said, “With our South African franchise, we now have three T20 teams across three countries. We look forward to leveraging our expertise and depth of knowledge in the cricket ecosystem & brand Mumbai Indians to help build the team and provide fans with some of the best cricketing experiences.”

  • Akash Ambani to take over as the chairman of Reliance Jio as Mukesh Ambani steps down

    Akash Ambani to take over as the chairman of Reliance Jio as Mukesh Ambani steps down

    Mumbai: Reliance Jio Infocomm, the telecom arm of Reliance Industries, announced on Tuesday that Reliance Industries chairman and managing director Mukesh Ambani has resigned his position at the company effective from 27 June. Akash Ambani, who is a non-executive director on the board of the company, will take over as the chairman of Indian telecom conglomerate.

    Further, Pankaj Mohan Pawar will take over as the managing director of the company, according to the decisions taken at Jio’s board of directors meeting held on 27 June 2022. The appointment is for a period of five years commencing from 27 June 2022, subject to approval of the shareholders.

    In a regulatory filing, Reliance Jio said the company’s board at a meeting on 27 June, “approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company.”

    Among other decisions taken by the company’s board of directors at the meeting held on Monday were appointing Raminder Singh Gujral and KV Chowdary as independent directors of the company for a period of five years commencing from 27 June 2022.

    The board noted the resignation of Mukesh D Ambani as director of the company effective from close of working hours on 27 June, even as it approved the appointment of Akash M Ambani, non-executive director as chairman of the board of directors of the company.

  • Jio Platforms, SES form JV for satellite-based broadband services in India

    Jio Platforms, SES form JV for satellite-based broadband services in India

    Mumbai: Indian digital service provider Jio Platforms Ltd (JPL) and SES, a Luxembourg-headquartered global satellite-based content connectivity solutions provider on Monday announced the formation of a joint venture – Jio Space Technology – to deliver the next generation scalable and affordable broadband services in India leveraging satellite technology. JPL and SES will own 51 per cent and 49 per cent equity stake in the joint venture, respectively. 

    “The joint venture will use multi-orbit space networks that are a combination of geostationary (GEO) and medium earth orbit (MEO) satellite constellations, capable of delivering multi-gigabit links and capacity to enterprises, mobile backhaul, and retail customers across the length and breadth of India and neighbouring regions,” said the statement.

    The joint venture will be the vehicle for providing SES’s satellite data and connectivity services in India, except for certain international aeronautical and maritime customers who may be served by SES. It will have availability of up to 100 Gbps capacity from SES and will leverage Jio’s premiere position and sales reach in India to unlock this market opportunity, the statement further said.

    As part of the investment plan, the joint venture will develop extensive gateway infrastructure in India to provide services within the country. Jio, as an anchor customer of the joint venture, has entered into a multi-year capacity purchase agreement, based on certain milestones along with gateways and equipment purchases with a total contract value of circa $100 million.

    “While we continue to expand our fibre-based connectivity and FTTH business and invest in 5G, this new joint venture with SES will further accelerate the growth of multigigabit broadband,” said Jio director Akash Ambani. “With additional coverage and capacity offered by satellite communications services, Jio will be able to connect the remotest towns and villages, enterprises, government establishments, and consumers to the new ‘Digital India’. We are excited about this new journey combining our massive reach and customer base with SES’s innovative leadership and expertise in the satellite industry.”

    The joint venture will leverage SES-12, SES’s high-throughput GEO satellite serving India and O3b mPOWER, SES’s next-generation MEO constellation to extend and complement Jio’s terrestrial network, thereby increasing access to digital services and applications. Jio will offer managed services and gateway infrastructure operations services to the joint venture.

    As Covid-19 has demonstrated, access to broadband is imperative for full participation in the new digital economy. This joint venture will be a catalyst for connecting the unconnected areas within India and the region to the full range of digital services, offering access to remote health, government services, and distance learning opportunities.

    “This joint venture with JPL is a great example of how SES can complement even the most extensive terrestrial networks to deliver high-quality connectivity, and positively affect the lives of hundreds of millions of people. We look forward to this joint venture whereby we can play a role in promoting digital inclusion in India,” stated SES CEO Steve Collar.

    The joint venture also aligns with the prime minister’s ‘Gati Shakti: National Master Plan for Multi-modal Connectivity’ initiative to provide integrated and seamless connectivity by implementing diverse infrastructure. It will also accelerate the achievement of the ‘Connect India’ goals in the 2018 National Digital Communications Policy as well as the Digital India programme by expanding broadband connectivity to Indian citizens across Indian geography.

  • Jio invests $15 million in deep tech startup Two Platforms

    Jio invests $15 million in deep tech startup Two Platforms

    Mumbai: Jio Platforms Ltd on Friday announced an investment of $15 million in Two Platforms Inc, a Silicon Valley-based deep tech startup founded by Pranav Mistry, for a 25 per cent equity stake on a fully diluted basis.

    Two will work collaboratively with Jio to fast-track the adoption of new technologies and build disruptive technologies such as AI, metaverse, and mixed realities, said the statement.

    Two is an artificial reality company with focus on building interactive and immersional AI experiences. After text and voice, it believes the next chapter of AI is visual and interactive. Two’s artificial reality platform enables real-time AI voice and video calls, digital humans, immersive spaces and lifelike gaming. The company plans to bring its interactive AI technologies first to consumer applications, followed by entertainment and gaming, as well as enterprise solutions including retail, services, education, health and wellness.

    The founding team at Two has several years of leadership experience in research, design and operations with leading global technology companies.

    Speaking on the investment, Jio director Akash Ambani said, “We are impressed with the strong experience and capabilities of the founding team at Two in the areas of AI/ ML, AR, metaverse and Web 3.0. We look forward to working together with Two to help expedite development of new products in the areas of interactive AI, immersive gaming and metaverse.”

    “Jio is foundational to India’s digital transformation. We at TWO are excited to partner with it to push the boundaries of AI and introduce applications of artificial reality to consumers and businesses at scale,” added Two CEO Pranav Mistry.