All eyes will be on the next annual meeting of shareholders of Reliance Industries. This comes in the backdrop of the company’s shares reaching an all-time high after remaining in hibernation for almost 10 years.

After the demerger of Jio Financial, shareholders are expecting RIL to unlock value in its telecom and retail arms so that they can benefit from the unlocking.

Mukesh Ambani is also expected to talk about his financial services plans. Though RIL is a late entrant, insiders say its captive business alone is enough to give it a big start over other players. Cash-rich RIL also plans to acquire smaller rivals in the financial services business. Mr Ambani has already thought of a finance company for acquisition and the announcement will be made at a ‘proper’ time.

There are rumours that retail and telecom will be demerged in 2027 when RIL will complete 50 years. But shareholders would like to happen it at the earliest in 2024. Will Mr. Ambani reveal his mind on the subject at the AGM?