Reliance Industries Chairman Mukesh Ambani addressed the company's 49th Annual General Meeting on June 19, 2026, unveiling a sweeping roadmap that includes the long-awaited Jio IPO, massive investments in AI infrastructure, and significant milestones in the new energy business. The AGM, watched by millions of shareholders and market participants, set the stage for Reliance's next growth chapter.
Key Announcements
| Announcement | Details |
|---|---|
| Jio IPO | Detailed roadmap confirmed for Jio Platforms listing within 12 months |
| AI Infrastructure | Rs 50,000 crore investment in AI compute infrastructure across India |
| New Energy | Solar giga-factory operational, green hydrogen pilot launched |
| Retail Expansion | Reliance Retail to enter 100 new cities in FY27 |
| 5G/6G | Jio demonstrating 6G capabilities; 5G now covers 98% of urban India |
Jio IPO: What We Know
Ambani confirmed that Jio Platforms — the group's telecom and digital services arm — will go public within the next 12 months. While he did not specify a valuation, analysts estimate Jio Platforms could be valued at over $150 billion, potentially making it one of the largest IPOs in Indian history. The listing will allow retail investors to participate directly in India's digital revolution.
Jio has over 500 million subscribers and has expanded beyond telecom into fibre broadband, cloud services, digital payments, and entertainment. Its AI ambitions include building India's largest AI computing infrastructure.
AI and India's Digital Future
Ambani announced a Rs 50,000 crore investment in AI compute infrastructure, including GPU clusters, data centres, and AI research labs. Reliance is positioning itself as India's leading AI infrastructure provider, competing with global hyperscalers like AWS, Google Cloud, and Microsoft Azure.
The investment includes partnerships with leading AI chip makers and plans to establish India's largest AI-focused data centre park in Jamnagar, powered by the group's renewable energy assets.
