Jio to file for IPO in 2026, says Mukesh Ambani in Reliance AGM

“Despite geopolitical uncertainty, India is on the rise, and India’s rise is unstoppable,” Mukesh Ambani, CMD, Reliance Industries Ltd told shareholders at the company’s AGM on Friday (August 29, 2025).

“Today, India already ranks among the world’s top four global economies. Under the determined leadership of our Prime Minister, Narendrabhai Modiji, India’s GDP is growing faster than all major economies. With the right set of reforms, advanced manufacturing capabilities, and a national priority on Deep Tech, our economy can grow at 10% annually,” he said.

“This will mean that the per capita income of Indians could rise 4-5 times within the next two decades, making India not just a prosperous nation but also a more equal nation. More importantly, India need not copy any foreign model. We have the ability, and the responsibility, to create an India-first model of development,” he said.

“This model will use Deep Tech to bring prosperity and security to India, improve the quality of life of each and every Indian, and protect the environment. This model will also harmonise technology with democracy, economy with culture, spirituality with science, and national aspirations with friendship across all nations,” Mr Ambani said.

RIL also unveiled a new, India-focused AI joint venture with Meta. “Together, we want to pair the power of open-source AI with Reliance’s deep domain knowledge across industries. That is why, we are forming a dedicated joint venture with Meta to combine open models and tools with our execution in Energy, Retail, Telecom, Media, and Manufacturing, and to deliver sovereign, enterprise-ready AI for India,” Mr Ambani announced.

Partnership with Reliance and Jio, an important part for Google: Sundar Pichai

Joining virtual, Google’s Sundar Pichai said “India has always been a special place to Google. It is home to some of the world’s most dynamic businesses, a thriving start-up ecosystem, and incredible amounts of creativity and ambition.”

He said the partnership with Reliance and Jio had been an important part bringing affordable internet access to millions, helping to power India’s digital revolution.

“And now we are building on this to help shape the next leap with AI. The AI opportunity in India is extraordinary. It will transform every industry and organisation – from the largest enterprises to the smallest kirana store,” he said.

Meta and Reliance are going to deliver open-source AI models, says Mark Zukerberg

Mark Zuckerberg, Founder and CEO of Meta said “We are seeing glimpses of our AI systems starting to improve themselves. And it seems clear that superintelligence is going to greatly improve all of our existing systems and let us build things that we can’t even imagine today.”

“We want to deliver personal superintelligence to everyone. We believe that this technology has the potential to bring a new era of personal empowerment to people, so that they have greater agency to improve the world in all of the directions that they choose,” he said. He said, “Meta and Reliance are going to deliver our open-source AI models to Indian businesses to help them fuel their work. With Llama, we have seen how AI can amplify human potential, boosting productivity, inspiring creativity, and accelerating innovation. And now, with Reliance’s reach and scale, we can bring this to every corner of India.”

Jio IPO planned in first half of 2026

Mr Ambani told shareholders that Jio was 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,” he said.

“I assure you that this will demonstrate that Jio is capable of creating the same quantum of value like our global counterparts. I am sure that it will be a very attractive opportunity for all investors,” he added.

Jio’s journey would progress beyond India

Akash Ambani, chairman Jio Platform informed shareholders that Jio’s journey would progress beyond India.

“Our innovative technologies will now be deployed globally, ready to solve global challenges. With strategic partnerships and a clear roadmap, we will take Jio’s services to the rest

of the world, creating value for partners and shareholders alike,” he said.

“Behind every achievement of Jio is a mission – to serve customers from the heart, to connect the unconnected, and to uplift every citizen. As we move forward, Jio remains committed to ensure that our technology empowers all of you,” he said.

RIL forms new subsidiary Reliance Intelligence

RIL has announced the formation of a new wholly-owned subsidiary called Reliance Intelligence to focus in AI and deep tech.

“This new company is conceived with four clear missions to house India’s next-generation AI infrastructure. Reliance Intelligence will build gigawatt-scale, AI-ready data centres, powered by green energy and engineered for training and inference at national scale,” Mr Mukesh Ambani said.

“Work has already begun on the gigawatt-scale, AI-ready data centres in Jamnagar. These facilities will be delivered in phases aligned to India’s growing needs, powered by Reliance’s new-energy ecosystem, and custom-made for AI training and inference,” he said.

He said the new company will house global partnerships. “Reliance Intelligence will bring the world’s best tech-companies and open-source communities together with Reliance’s deep-domain expertise and execution strength, to deliver performance leadership, resilient supply, and India-first compliance for AI,” he said.

JioHotstar world’s second largest streaming platform: Akash Ambani

JioHotstar, the OTT platform owned by the joint venture created after the merger of the media business of Reliance and the India business of global media giant Walt Disney, has become the second-largest streaming platform.

In addition, with a 34% TV market share — equal to the next three networks combined — JioStar is well on its path to serve a billion screens across mobile, TV, and connected devices, said Reliance Jio Infocomm Ltd Chairman Akash M Ambani, while addressing the AGM of RIL.

Moreover, JioStar will continue to expand across platforms and geographies. "We have created an experience that combines the best of content, software and AI through JioHotstar. We always want to push the boundaries."