Reliance AGM 2026: Jio IPO, AI Push And Other Key Announcements

Reliance Industries held its 49th Annual General Meeting (AGM) on 19 June 2026. In it, the company announced that the Jio IPO will be one of its main growth drivers for the future. This will be strongly supported by AI, satellite broadband, retail expansion and clean energy initiatives.

Here are the key takeaways for investors:

Jio IPO Moves Ahead

One of the biggest announcements made in the AGM was the approval of the Draft Red Herring Prospectus (DRHP) by the board of Jio Platforms. Reliance said the document would be filed with SEBI, formally setting the IPO process in motion.

The company described the proposed listing as an opportunity to showcase India's ability to build technology businesses with global scale and capabilities.

Jio Crosses 524 Million Users

• Reliance highlighted the scale achieved by Jio over the past decade:

• Total user base crossed 524 million.

• 5G subscribers crossed 268 million.

• JioAirFiber connected 13 million homes.

• Annual data traffic grew 30.8% to 241 exabytes.

Jio Platforms reported FY26 revenue of ₹1.47 lakh crore and EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) of ₹76,255 crore, while profit after tax (PAT) crossed ₹30,000 crore for the first time (15.1% YoY).

AI Becomes A Major Focus Area

Reliance said it is moving into the execution phase of its AI strategy through Reliance Intelligence, which aims to build AI infrastructure, platforms and services for consumers, enterprises and governments. The company said it has partnerships with Google, Meta and NVIDIA to support these plans.

It also announced:

• A sovereign AI infrastructure project is being developed in Jamnagar.

• The first 120 MW of AI compute infrastructure is expected by the end of 2026.

• AI services are being developed in 22 Indian languages.

• Consumer-focused offerings include JioBharatIQ, JioHealthIQ, JioLearnIQ and JioKrishiIQ.

Satellite Broadband Plans Unveiled

The company revealed plans to evaluate a sovereign low-Earth-orbit satellite constellation for India while also leasing capacity from global satellite operators. Reliance said it is building ground station infrastructure to support satellite broadband services across the country.

Retail Continues To Scale

Reliance Retail completed 20 years of operations and crossed 20,000 stores during FY26. The business reported revenue of ₹3.7 lakh crore and profit after tax of ₹13,838 crore.

The company said quick commerce is becoming a major growth driver, with JioMart operating through more than 3,100 stores and serving over 1,200 cities. Average daily orders increased 3.6 times year-on-year.

Also Read - Jio IPO DRHP Filing Today: Ambani Says Global-Scale Tech Firm Ready For Markets

New Energy Projects Advance

Reliance said several major clean energy projects are moving from construction to commissioning.

Key updates included:

• Solar PV manufacturing lines are operational.

• The first phase of the battery giga factory is expected to be commissioned this year.

• Battery manufacturing capacity is planned to scale to 120 GWh annually.

• Commercial revenue from solar modules is expected to begin this year.

The company also announced a long-term US$3 billion green ammonia supply agreement with Samsung C&T, describing it as one of the world's largest green ammonia offtake contracts.

In the AGM, Mr Mukesh Ambani said he is confident Reliance can double and potentially more than double consolidated EBITDA over the next five years. For FY26, EBITDA was ₹2.08 lakh crore, with PAT of ₹95,754 crore.

Source:

RIL Official Statement