The future of Reliance is in the hands of the new generation! Mukesh Ambani said- ‘Succession plan almost completed, children are handling daily management’

Billionaire Mukesh Ambani said at the AGM that the transfer of day-to-day management responsibilities at Reliance Industries to his children is almost complete. This signals the final stage of the long-running succession process at the country’s most valuable company. Speaking at the annual general meeting of Reliance Industries, Ambani said his children Akash, Isha and Anant are now leading various key businesses of the group and will drive the company’s next growth phase in sectors such as telecom, retail, digital services and new energy. Praising his three children, Ambani said that the generational transfer of day-to-day management at Reliance is almost complete. This indicates that the succession process has reached its final stage.

Mukesh Ambani said…

He told the shareholders that the future of your company is not only in safe hands, but in hands that will take it to greater heights. Like last year, this time too he gave the platform to Akash and Isha to present their plans for telecom and retail business respectively. His youngest son Anant, who was appointed executive director in May last year, shared business knowledge related to the energy sector. Mukesh Ambani said, ‘Isha, Akash and Anant have now completed three transformational years on the board of directors of Reliance Industries. Isha leads the consumer businesses, Akash leads the technology businesses and Anant is taking over the leadership of the energy businesses. He said that these three people are together working on the overall growth of the entire group.

Jio IPO announced

Earlier, Reliance Industries’ digital services unit Jio Platforms Limited filed draft documents for its IPO on Friday. Through this issue, the company is planning to raise about four billion dollars (about Rs 37,700 crore), due to which its valuation is estimated at about $137 billion. According to the draft document filed with market regulator SEBI, the company will issue a maximum of 27 crore new shares of face value of Rs 10 each, which will be about 2.9 percent of the post-issue paid-up equity capital. This offer is considered an important step for Reliance Industries, as the group wants to create value from its telecom and technology business. This business has been the main engine of growth for the company since its inception in 2016.