Reliance Industries AGM: One of the biggest announcements at the 48th AGM was the confirmation that Jio Platforms would launch its initial public offering in the first half of 2026.
Billionaire Mukesh Ambani-led Reliance Industries Ltd. (RIL) will hold its 49th Annual General Meeting (AGM) on Friday, June 19, with investors closely watching for updates on the much-awaited Jio listing, artificial intelligence initiatives and the conglomerate's new energy business.
According to stock exchange filings, the AGM will begin at 2 pm and will be conducted through video conferencing and other audio-visual means. The event is among the most closely followed corporate gatherings in India and is tracked by investors globally.
Expectations are high after last year's AGM, where Ambani unveiled a slew of initiatives across telecom, AI and digital infrastructure.
Here are the top announcements from the 48th AGM
1. Jio Platforms
One of the biggest announcements at the 48th AGM was the confirmation that Jio Platforms would launch its initial public offering in the first half of 2026. Investors are now looking for an updated timeline and further details regarding the proposed listing.
Reliance highlighted Jio's rapid growth, with the telecom giant crossing 500 million subscribers ahead of its 10th anniversary. Ambani also outlined five key achievements of Jio, ranging from providing free voice calls across India and enabling digital payments to laying the foundation for India's digital public infrastructure and AI ecosystem.
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2. AI-powered consumer products
The company also showcased several technology products, including Jio AI Cloud, which offers AI-powered search and data organisation features, JioPC, a cloud-based virtual computer, and JioFrames, AI-enabled smart glasses capable of making calls, recording videos and attending meetings.
Other announcements included JioLenZ, a one-click personalised content platform, and JioStar, an AI-driven media service aimed at enhancing content delivery. Reliance also expanded its offerings in smart home solutions and cloud-based virtual PCs, underlining its strategy of embedding artificial intelligence across media, devices and digital infrastructure.
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3. Reliance Intelligence
Reliance Industries announced the launch of Reliance Intelligence, a wholly owned subsidiary focused on artificial intelligence and deep technologies, as the conglomerate stepped up its ambitions in the AI space. Chairman Mukesh Ambani described the move as the beginning of a "new digital revolution" for India, with a strong emphasis on developing India-first AI solutions for businesses and consumers.
The company also unveiled an expanded partnership with Google to develop India-centric AI models, cloud infrastructure and enterprise solutions for Jio's ecosystem of more than 500 million users. Building on Google's $4.5 billion investment in Jio Platforms in 2020, the collaboration aims to accelerate AI adoption in Indian languages, empower small businesses and enable affordable digital devices.
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In addition, Reliance announced a $100 million joint venture with Meta, in which Reliance will hold a 70% stake. The partnership is aimed at advancing AI capabilities and deep-tech innovation, reinforcing Reliance's strategy of making AI accessible and scalable across industries. Ambani said these initiatives are central to the group's "India-first" vision for the next phase of digital transformation.
4. Green energy megaproject
Reliance's renewable energy ambitions took centre stage at the AGM, with Anant Ambani unveiling plans for a massive integrated energy complex that he said would be four times the size of Tesla's Gigafactory. According to him, the project would require steel equivalent to that used in 100 Eiffel Towers and would serve as the cornerstone of Reliance's clean energy strategy.
The facility is expected to manufacture green hydrogen, solar power components and advanced battery storage systems at scale, supporting India's energy security and decarbonisation goals.
5. Target to double EBITDA by 2027
Mukesh Ambani reaffirmed Reliance Industries' goal of doubling its EBITDA by 2027, describing the coming decade as the company's "golden decade". He said growth would be driven by the conglomerate's core businesses spanning digital services, retail, energy and chemicals, which are expected to remain key engines of expansion.
6. Healthcare and social initiatives
On the social impact front, Reliance Foundation Chairperson Nita Ambani announced the launch of "Jeevan", a dedicated paediatric wing at Sir H. N. Reliance Foundation Hospital. The facility will focus on providing advanced cancer care for children and strengthening paediatric healthcare services.
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7. Strategic vision and leadership
Mukesh Ambani and members of the Ambani family reiterated their commitment to maintaining Reliance's leadership in emerging sectors such as artificial intelligence, digital healthcare, clean energy and retail. The group said it aims to continue serving as a key driver of India's economic growth through innovation and sustainability.
Published on: Jun 19, 2026 6:20 AM IST
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