Reliance AGM: Nita Ambani resigns from RIL board; Isha, Akash and Anant appointed

Jio Smart Home, AirFiber among much-anticipated launches

Nita Ambani will step down from the Reliance Industries (RIL) Board and continue as the chairperson of the Reliance Foundation, it was revealed during RIL's 46th annual general meeting (AGM) on Monday.

RIL Board has recommended the appointment of Isha Ambani, Akash Ambani and Anant Ambani as non-executive directors of the company.

AirFiber will be launched on September 19 on the occasion of Ganesh Chaturthi. Mukesh said Jio Smart Home services will redefine Indian homes. "Our extensive Jio Fiber service already serves 10+ mn customers, with thousands getting connected each month. With Jio AirFiber, we are expanding our addressable market to 200+ mn homes and other premises."

In other major announcements, Jio will roll out one million 5G cells across the country by the end of the year. “We began 5G rollout last October. In nine months, Jio 5G is already present in over 96 per cent of the towns. This makes Jio 5G the fastest 5G rollout anywhere in the world,” said RIL chairperson Mukesh Ambani. “Nearly 85 per cent of total 5G cells operational in India are in Jio network. At current pace, we are adding one 5G cell to our network every 10 seconds.”

He added that Jio has 450 million subscribers, which is a revenue growth of 50 per cent and an average monthly consumption of 25 GB.