RIL AGM 2019 Updates: Reliance Industries aims to become zero net-debt company in next 18 months: Mukesh Ambani

Mukesh Ambani, Chairman, Reliance Industries. News18[/caption]At the 41st AGM, Reliance Industries Chairman and Managing Director Mukesh Ambani had said that "The company has already invested more than $250 million in the industry. We will now extend the service to 1,100 cities to offer the most advanced fibre-based broadband services. This will mean a faster internet experience. A virtual reality experience for all citizens where you can control switches in your house from outside as well. This will redefine 24x7 emergency help for all homes across India. We are calling this the JioGigaFibre."In fact, JioGigaFiber has already been launched in select markets across the country. It currently offers fibre-to-the-home (FTTH) broadband connections with 1.1TB (terabytes) of free data at a speed of 100 mbps.During the June quarter, the Average Revenue per user (ARPU) for Reliance Jio—which unleashed one of the most brutal price wars in India's telecom market—was at Rs 122 per subscriber per month. This is, however, lower than ARPU of Rs 126.2 per subscriber per month seen in the March quarter.As per the latest data released by TRAI, Vodafone Idea—born last year from the merger of older operators Vodafone India and Idea Cellular—continues to be the largest operator with 38.75 crore consumers and 33.36 percent market share in the wireless segment as on 31 May 2019.Reliance Jio added 81.80 lakh new subscribers (on a net basis) in May and ended the month with 27.80 percent market share and 32.29 crore subscribers.Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd which publishes Firstpost