Reliance AGM: Jio IPO by H1 2026, partnerships with Meta, Google and more- 5 key highlights from Mukesh Ambani’s speech

Mukesh Ambani, Chairman of Reliance Industries (RIL), addressed the much-awaited 48th annual general meeting of the company. The spotlight, of course, was on the Jio IPO timeline. Ambani detailed listing plans for H1 2026 but that’s not all. His address to shareholders also highlighted the company’s expanding AI ambitions, new partnerships with global technology giants and Reliance’s long-term growth targets. Jio gearing up for IPO in 2026 While addressnig the shareholders virtually, Ambani announced that Reliance Jio, which has already crossed 500 million subscribers, is preparing to go public. “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,” he said. Jio reported revenues of Rs 1.28 lakh crore in FY25, growing 17 per cent year-on-year. Reliance betting big on AI Ambani described artificial intelligence as the “Kamdhenu of our age” and said Reliance is embedding AI across energy, retail, telecom and entertainment. The company has launched a new wholly subsidiary, Reliance Intelligence, to house AI-ready data centres, services, and talent. “Reliance Intelligence promises to deliver AI everywhere for every Indian,” Ambani said. The name Reliance Intelligence is subject to approval by the Ministry of Corporate Affairs. Reliance Industries partners Meta and Google Reliance Industries has deepened its collaboration with two of the world’s biggest technology companies. The company has expanded its partnership with Google Cloud to set up a dedicated AI-focused cloud region in Jamnagar, powered by green energy and connected through Jio’s advanced network. Designed and built by Reliance, the facility will host Google Cloud’s latest AI infrastructure, enabling enterprises, startups, and public sector organizations to access high-performance AI solutions at scale. At the same time, Reliance is forming a joint venture with Meta to develop enterprise AI solutions in India, with an initial investment of about Rs 855 crore ($100 million), split 70:30 between the two companies. The partnership will leverage Meta’s open-source Llama models and Reliance’s reach across thousands of Indian enterprises and SMBs to deliver sector-specific, ready-to-deploy AI platforms and tools. Ambitious growth roadmap Looking ahead, Ambani reaffirmed Reliance’s target of achieving strong double-digit growth across its businesses. “Reliance will more than double its EBITDA by the end of its Golden Decade in 2027,” he said. He highlighted the company’s focus on new energy, consumer products, retail expansion, and deep-tech solutions. In its retail business, Reliance is targeting a growth rate of over 20 per cent CAGR over the next three years. For its FMCG business, Ambani said, “Our near-term ambition is clear – to be the fastest consumer brands company to reach ₹1 lakh crore ($11.7 billion) in revenue within five years.” New product innovations The AGM also showcased new digital products from Jio, including JioPC, an AI-ready computer that turns any TV into a full-fledged PC, and JioFrames, an AI-powered wearable device with multilingual support. The company also unveiled upgrades to Jio AI Cloud and home broadband solutions, signalling its ambition to democratise access to AI-driven technology.