‘New Reliance for a New India’

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New Delhi, May 17 (IANS) “New Reliance for a New India” is the pitch for Reliance Industries Ltd (RIL) in a corporate presentation sent to stock exchanges on Friday in the run-up to its mega rights issue.
“Reliance is a ‘Made in India’, ‘Made for India’ and ‘Made by Indians’ Company,” the company said.
The presentation has been filed with the BSE, NSE and Luxembourg, Singapore and Taipei stock exchanges.
The new messaging follows RIL’s new positioning now as a technology/consumer company with Jio at the forefront of attracting marquee investors like Facebook.
RIL is now at the beginning of a new and unprecedented wave of wealth creation for India by harnessing the power of new technologies to fire its diverse growth engines, the presentation said.
RIL said it has always aligned its businesses with national goals and priorities for making India self-reliant, strong and prosperous and its innovative products and services have created immense societal value by touching the lives of 800 million Indians, and, potentially, all 1.3 billion Indians.
The “New Reliance” story has a combination of ideas including the pitch that RIL is the best proxy for India’s consumption-driven and tech-propelled growth story.
It has highlighted the fact that there is hyper-growth of consumer businesses along with a strong O2C platform, robust and high quality balance sheet to be sustained by strong cash flow generation and its track record of significant value creation for shareholders and ongoing re-rating of the stock.
RIL has attracted significant recent investments from leading global strategic and financial investors and tech led growth to drive next phase of value New India.
Reliance has built new three mega growth engines in a single decade, it said. Through Jio, it has connected Indians digitally with unprecedented reach at affordable prices with superior customer experience. It reached 388 million subscribers (FY20) in less than four years since inception.
Through Reliance Retail, it is serving the entire spectrum of Indian society with 640 million footfalls in FY20 and supplying a diversified product portfolio of groceries, fashion & lifestyle, consumer electronics and connectivity through 11,700 plus stores across 28.7 million sq. feet (FY20).
RIL is also connecting people and businesses by providing transportation fuels in one of the fastest growing energy markets and supplying petrochemicals to diversified end-use industries manufacturing essential industrial and consumer goods using polymers and polyesters.
The rights issue of Reliance Industries Limited (RIL) will be priced at Rs 1,257 per share with share ratio at 1:15. The issue amount is Rs 53,125 crore.
The rights issue is expected to open on May 22. The payment terms will be 25 per cent on application and balance in one or more calls.
Reliance is a proxy to India’s tech led growth. RIL’s digital connectivity platform of unparalleled capacity and a nation-wide reach makes this a great opportunity, the company said.
On future plans, RIL will take education, health and agri-knowledge to the doorsteps of rural India riding on Jio platform. RIL is already a software company developing an ecosystem of new digital technology platforms including IoT, cloud computing, New Commerce, a home and-office connectivity platform among others.
Jio is best placed to equip MSME players in India with cutting-edge, plug-and-play, technology-enabled tools, it said.