As we all know Reliance Jio is making headlines ever since it has announced its tariff plan and now the company is likely to give another jitter to telecom industry as Reliance Industries Limited (RIL) is holding Annual General Meeting at 11 AM today and it is expected that Mukesh Ambani will share Jio's future growth story.
There is a speculation that the company may announce its 4G VoLTE enabled feature phone at the AGM, along with new tariff plans and its broadband network JioFibre.
The announcements might also include details on Jio Payments Banks which is expected to be launch soon.
However, sources told Gizbot that, "the company is not going to make any announcement regarding its feature phone at the AGM."
But still a recent report said that Jio has signed up Intex in order to make these feature phones and the company might sell over 200 million units in two years.
Meanwhile, another report by 91mobiles claims that the feature phones will be up for pre-booking just a day after the official announcement, and it is likely to come in two variants.
Reliance Jio is planning to raise Rs 20,000 crore through a rights issue to meet funding requirements.
"The Board of Directors at its meeting held on Wednesday has decided to make a rights issue of four billion - nine percent non-cumulative optionally convertible preference shares (OCPS) of Rs 10 each for cash, at a premium of Rs 40 per OCPS, aggregating Rs 20,000 crore," Reliance Jio Infocomm said in a regulatory filing.
Since the commencement of services, Jio has become the fastest growing technology company in the world with more than 100 million in just 170 days, followed by the largest free to paid services migration.