For the first time in the country, Reliance launches chatbot for rights issue

For the first time in the country, Reliance launches chatbot for rights issue

Reliance Industries has launched a chatbot to answer shareholders’ questions on its Rs 53,125 crore rights issue. Mukesh Ambani’s company has launched it through its new partner Facebook’s WhatsApp for any information on the rights issue to shareholders.
Sources associated with the case said that for the first time such a chatbot has been introduced for public issue. It has been developed by Jio Haptic Technologies. For the first time, the company is using artificial intelligence (AI) to help stock market investors.

returns said the AI based Catbot answer shareholders questions on rights issue of Rs 53,125 crore. This is the largest rights issue brought by an Indian company. Chatbots are answered in English. At the same time, the video on FAQs is in English, Hindi, Marathi, Kannada, Gujarati and Bangla. shareholders The number of shareholders of the company is over 26 lakh. At the same time, the number of WhatsApp users in the country is 400 million. This chatbot can be reached by sending a message to plus 91-79771 11111. When contacted, a Reliance Industries spokesperson declined to comment. Reliance Industries’ Rs 53,125 crore rights issue opened on May 20 and will close on June 3.

In fact, to raise capital, listed companies in the stock markets bring rights issue. Through a rights issue, companies allow their existing shareholders to buy additional shares only. Shareholders can buy shares in a fixed ratio, which the company decides. That is, the shareholders can buy the shares under the rights issue on behalf of the company in a fixed period. However, this does not affect the ownership of the company. Through a rights offering, companies give existing shareholders the right to buy new shares at reduced rates, but are not obligated to do so. RIL last raised funds from the public in 1991 by issuing convertible debentures.