Amid coronavirus pandemic, Reliance Industries (RIL) will hold its first-ever virtual annual general meeting (AGM) on Wednesday, which will have participation capacity of more than 100,000 shareholders from 500 locations, in India and overseas.

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Unlike other years, there will be no festival-like, electricity-filled atmosphere at the famed Birla Matushree hall of Mumbai but with Jio’s technology the AGM will showcase multiple firsts on real-time basis including a chat bot, two-way live streaming, and a brand-new virtual platform that enables more than 100,000 shareholders from 500 locations, in India and overseas, to log in simultaneously, a RIL statement said on Tuesday.

“The pandemic is a blessing in disguise for shareholders outside Mumbai, who thus far could never attend this most sought-after annual event of corporate India. They will now simply log into the event live, can listen to the plans and initiatives and comment and participate too,” it stated.

For easy onboarding of its shareholders, RIL has launched an educative Chatbot via Whatsapp number +91 79771 11111.

The India’s most company said this will be a first for any AGM ever in India. It is powered by Jio Haptik and equipped to answer queries and guide shareholders, prospective investors, media and general public with accurate and immediate information as a 24 x 7 helpdesk that can handle 50,000 querists simultaneously via conversational text and video.

The Jio Haptik chatbot on RIL Rights Issue was a first too and validated RIL’s mission to digitally empower businesses and individuals through simple, smart and secure technology, the statement added.

RIL AGM, what was once limited to an auditorium in Mumbai, has been turned this year into a limitless example of corporate democracy.

The canvass is reminiscent of the 1980s, when founder chairman Dhirubhai Ambani held AGMs in iconic sporting stadia in Mumbai packed with thousands of shareholders.

The upcoming AGM, four decades later, will be a virtual, tech-enabled vision of the same, where shareholders will be able to watch the AGM, ask questions to the chairman and vote - all aided by technology, in line with RIL’s current focus.

By going online, RIL is bringing together its widespread shareholding of 2.6 million, it noted.

In addition to shareholders in India, those in countries including the USA, the UK, Canada, the UAE, Japan, Hong Kong, Singapore, Malaysia and Australia will also log in.

Platforms and capabilities that will power the AGM include video conferencing, Jio Meet platform, Cisco Webex and commercial webcast.

All directors, key officials and shareholder speakers will be visible and audible and thousands of shareholders will be able to post their questions and eVote on resolutions.

(Disclaimer

: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd)

First Published:Jul 14, 2020 7:25 PM IST