Jio IPO to Hit Market by Mid-2026: Mukesh Ambani

Ambani assured shareholders that the listing would showcase Jio’s ability to create value comparable to global peers. “Jio is making all arrangements to file for its IPO. We are aiming to list Jio by the first half of 2026, subject to all necessary approvals. This will be a very attractive opportunity for investors,” he said.

At the AGM, Reliance unveiled several strategic initiatives across technology, energy, healthcare, and retail:

• AI Push: The board approved the incorporation of a new subsidiary, Reliance Intelligence Limited, to drive artificial intelligence ventures. The company will build gigawatt-scale, AI-ready green energy-powered data centres in Jamnagar. Reliance also announced a joint venture with Meta Platforms Inc. to develop enterprise AI services, with RIL holding 70% and Meta 30%. The two partners have committed an initial investment of about Rs 855 crore (USD 100 million). Additionally, RIL will deepen its partnership with Google Cloud to build AI-driven infrastructure in Jamnagar.

• Consumer Business: Isha Ambani announced that Reliance Consumer Products Ltd (RCPL) will become a direct subsidiary of RIL, consolidating all consumer brands under one umbrella. RCPL aims to deliver global-quality products at affordable Indian prices.

• New Energy Mission: Anant Ambani detailed RIL’s most ambitious project—a massive new energy ecosystem. Reliance is developing one of the world’s largest single-site solar projects in Kutch, Gujarat, spanning 5,50,000 acres. The site will deploy 55 MW of solar modules and 150 MWh of battery containers daily, with the potential to meet nearly 10% of India’s electricity demand within a decade. RIL’s giga-factories will also produce green ammonia, e-methanol, and sustainable aviation fuel.

• Healthcare & Philanthropy: Nita Ambani announced that the Reliance Foundation will establish a 2,000-bed hospital in Mumbai.

Mukesh Ambani also highlighted the company’s employment plans, stating that Reliance’s workforce of 6.8 lakh would grow to over 10 lakh in the coming years.

Despite the announcements, Reliance shares fell 2.21% on Friday to close at Rs 1,357.05, reflecting geopolitical headwinds and investor concerns over the IPO structure. Analysts noted that existing RIL shareholders would not directly benefit from the Jio IPO, leading to a “holding company discount.”

Commenting on the AGM, Santosh Meena, head of research at Swastika Investmart, said: “RIL’s focus on artificial intelligence was a major theme. The launch of Reliance Intelligence and a collaboration with Meta signal a strategic pivot toward next-generation technologies. This could create new revenue streams and embed AI across its diverse businesses, from retail to energy.”