Jio IPO By 2026: Mukesh Ambani Promises Global-Scale Value Creation In Reliance AGM 2025

Reliance AGM 2025: Reliance Industries Limited (RIL) held its 48th Annual General Meeting (AGM) on Friday, the first after its landmark public listing.

Addressing shareholders, Chairman and Managing Director Mukesh Ambani announced a significant development: Reliance Jio will file for an Initial Public Offering (IPO), with a target listing in the first half of 2026, subject to necessary approvals.

Ambani said the Jio IPO will “demonstrate that Jio is capable of creating the same quantum of value as our global counterparts” and emphasised that it will be “a very attractive opportunity for all investors.”

Technology and Growth Outlook

In his keynote, Ambani highlighted three major global technological shifts shaping the future: clean energy, genomics, and artificial intelligence. Calling AI the “new Kamdhenu – the divine wish-fulfilling cow of our age,” he underlined Reliance’s commitment to embedding AI across businesses, from retail and telecom to energy and entertainment.

“We are building the world’s most advanced clean energy ecosystems, expanding into digital health and genomics, and developing AI as a new growth engine,” he said.

He further stated that under Prime Minister Narendra Modi’s leadership, India is poised for rapid growth.

“With the right reforms and advanced manufacturing capabilities, our economy can grow at 10% annually,” Ambani said, stressing that India should follow an “India-first model of development” that balances technology, democracy, culture, and environmental responsibility.

Financial Performance

Ambani reported a strong year for Reliance in FY-25 despite global and domestic challenges. The company became India’s first to cross $125 billion in annual revenues, while EBITDA reached Rs 1,83,422 crore ($21.5 billion) and net profit grew to Rs 81,309 crore ($9.5 billion).

Reliance also crossed a market capitalisation of over Rs 17 lakh crore, reflecting a five-fold increase in shareholder value in recent years. The company contributed Rs 2,10,269 crore ($24.6 billion) to the national exchequer in FY-25, while cumulative contributions in the last six years surpassed Rs 10 lakh crore.

On the social responsibility front, Reliance’s CSR spending in FY-25 rose to Rs 2,156 crore, with cumulative expenditure over the last three years crossing Rs 5,000 crore. The company’s workforce now stands at 6.8 lakh, with plans to expand to more than 10 lakh in the coming years.

Jio’s Milestones

Jio, which will complete 10 years of operations next week, now serves over 500 million customers. Ambani called this milestone a symbol of customer trust.

He highlighted five transformative achievements of Jio: making voice calls free, enabling mobile video and digital payments, supporting India’s digital public infrastructure, fostering the world’s third-largest start-up ecosystem, and rolling out the world’s fastest 5G network.

The AGM last year was also held on August 29. Reliance Industries has begun FY26 with a robust, all-round operational and financial performance.