Reliance AGM 2025: Mukesh Ambani Confirms Jio IPO By First Half Of 2026
The proposed IPO is expected to be one of the most significant listings in India’s capital market history, as investors have long awaited the move.
Mukesh Ambani-led Reliance Industries on Thursday opened its 48th Annual General Meeting (AGM) with a strong focus on growth in digital and energy businesses, unveiling key milestones and plans. The Reliance chairman announced that Jio is finally going public and plans to list publicly in the first half of 2026.
Jio Prepares for Market Debut
Ambani emphasised that Jio’s scale and strength make it well-positioned to enter the public markets. “Jio has crossed 500 million customers, becoming not only India’s largest digital services provider but also among the biggest globally,” he said. The proposed IPO is expected to be one of the most significant listings in India’s capital market history, as investors have long awaited the move.
“Today, it is my proud privilege to announce, that Jio is making all arrangements, for its IPO. We are aiming to list Jio by the first half of 2026, subject to all necessary approvals. I assure you that this will demonstrate that Jio is capable of creating the same quantum of value, as our global counterparts. I am sure, it will be a very attractive opportunity for all investors,” RIL CMD Mukesh Ambani said.
The preparations for the offering are already underway, with Reliance keen to leverage Jio’s expansive footprint across telecom, broadband, and digital services. The listing is expected to unlock substantial value for shareholders while offering retail investors access to one of India’s fastest-growing digital platforms.
Reliance’s Vision: AI, Clean Energy, and Deep Tech
Beyond Jio, Ambani laid out an ambitious blueprint for Reliance’s future. He said the conglomerate was embedding artificial intelligence across all its businesses, from retail and telecom to energy and entertainment. Describing AI as the “Kamdhenu of our age,” Ambani positioned it as a new growth engine that could power efficiency, productivity, and innovation at scale.
“For India, therefore, we are building the world’s most advanced clean energy ecosystems. We are expanding into the frontier of digital health, life sciences and genomics, and we are developing AI as a new growth engine, besides embedding AI across all our businesses,” he noted.
He added that India’s unique scale, entrepreneurial spirit and talent base made it the ideal leader in this new era of clean energy and digital transformation.
Financial Performance and Workforce Expansion
Reliance also highlighted its performance in FY25, becoming the first Indian company to cross $125 billion in annual revenue. Consolidated revenue stood at Rs 10.71 lakh crore, while EBITDA reached Rs 1.83 lakh crore. Net profit was recorded at Rs 81,309 crore.
The conglomerate contributed Rs 2.10 lakh crore to the exchequer, underlining its significant role in the national economy. Employment generation also featured strongly in Ambani’s address, with Reliance’s workforce currently at 6.8 lakh, expected to grow beyond 10 lakh in the coming years.
Balancing Global Uncertainty with Domestic Growth
Ambani acknowledged rising global uncertainties but described this period as a “golden age of abundance and affordability” driven by breakthroughs in technology and sustainable energy. With clean energy, genomics, AI and deep tech converging, he said Reliance was confident of not only leading but also shaping India’s development model for the future.
As the AGM progressed, anticipation grew around more details of Jio’s IPO roadmap, which is set to be one of the defining market events in 2026.
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