Key takeaways from Reliance Communication 14th Annual General Meeting

At the 14th annual general meeting (AGM), Reliance Communications (RCom) chairman Anil Ambani bid adieu to the telecom business, owing to intense slugfest in the sector. Once the regulatory approvals for spectrum sales to Mukesh Ambani’s Reliance Jio receive clearance, RCom will exit the telecom business completely.

RCom is planning to develop 133-acre infotech park Dhirubhai Ambani Knowledge City (DAKC) in Navi Mumbai into 30 million sqft of commercial space as part of its asset monetisation plan. The development will result in creating an area that is equivalent to 75 Nariman Points (Mumbai's central business district) or 10 new Bandra-Kurla Complexes.