Reliance Industries' 49th annual general meeting (AGM) on Friday will be in sharp focus as investors await updates on the group's strategic roadmap, including the timeline for the much-anticipated Jio Platforms IPO, retail growth plans, and developments in its new energy business.
During the last AGM held in 2025, the company unveiled a series of major announcements spanning artificial intelligence, the Reliance Jio IPO, and strategic partnerships with global technology giants Google and Meta. It also introduced several new products and services, highlighting its continued focus on expanding its digital ecosystem and technology offerings.
Read more: RIL AGM 2026: Jio IPO and 4 other big bets Mukesh Ambani could unveil
Top 5 announcements from Reliance Industries' 48th AGM:
Jio IPO in works
One of the biggest highlights of the 48th AGM was Reliance Industries (RIL) Chairman and Managing Director Mukesh Ambani announcing the plan to list its telecom venture Jio on Dalal Street by the first half of 2026.
"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 ... I am sure that it will be a very attractive opportunity for all investors," Mukesh Ambani said.
While the original listing timeline was not met, investors are hoping the upcoming AGM will provide clarity on the revised schedule.
According to a Financial Times report, Reliance is likely to file draft IPO documents with market regulator Securities and Exchange Board of India (SEBI) ahead of Friday's AGM for a public issue expected to raise about $4 billion. If the offering materialises at that size, it would overtake Hyundai Motor India's $3.3 billion IPO to become the biggest public listing ever in India.
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Reliance Intelligence
In addition to the Jio IPO plans, another highlight of the meeting was Mukesh Ambani announcing the formation of a new wholly-owned subsidiary called Reliance Intelligence, to house large-scale AI infrastructure in the country, and provide “AI Everywhere for Everyone”.
Outlining Reliance's AI ambitions, Ambani unveiled plans for Reliance Intelligence, which will build gigawatt-scale, AI-ready data centres powered by green energy and designed to support AI training and inference at a national scale.
He said the new venture has been conceived around four core missions: building India's next-generation AI infrastructure, forging global technology partnerships, developing AI services tailored for India, and nurturing the country's AI talent ecosystem.
In addition to the formation of Reliance Intelligence, Mukesh Ambani also announced a series of new AI-powered products and services, including JioPC, a cloud-based virtual computer, JioFrames — AI-enabled smart glasses, and RIYA, a multilingual voice-enabled search assistant for the JioHotstar streaming platform. He also said JioHotstar will soon leverage AI to enable voice cloning and lip-syncing, allowing content to be seamlessly dubbed across multiple Indian languages.
Next-gen energy plans
Beyond AI and digital initiatives, Reliance also outlined its roadmap for clean energy expansion. The company is accelerating its clean energy ambitions, with its electrolyser gigafactory expected to become operational by the end of 2026. The facility will have the capacity to scale up to 3 GW annually, supporting cost-competitive green hydrogen production through exclusive global technology partnerships and the company's in-house capabilities.
In Kutch, Gujarat, Reliance is developing one of the world's largest single-site solar projects across 5,50,000 acres of arid land—an area nearly three times the size of Singapore. Highlighting the project's scale at the AGM, executive director Anant Ambani said, "At peak, we will deploy 55 MW of solar modules and 150 MWh of battery containers every day. This will be among the fastest installations globally. This single site could meet nearly 10% of India’s electricity needs within the next decade."
Additionally, under its "Urja Daatas" (Energy Producers) initiative, the company is building 55 compressed biogas (CBG) plants with a combined annual capacity of 0.5 million tonnes.
Reliance plans to expand this network to more than 500 CBG plants by 2030. The company has also established what it says is the world's largest Bioenergy Technology and R&D Centre at Jamnagar.
Big global partnerships
During the AGM, Mukesh Ambani further revealed that the company has partnered with US tech giants Google and Meta to build world-class assets and execute at India's scale.
Ambani announced a deep AI partnership with Google, highlighting the integration of Reliance’s infrastructure expertise with Google Cloud’s AI technologies.
Reliance also unveiled a joint venture with Meta, aimed at bringing enterprise-ready open-source AI to Indian businesses. Ambani described the Meta partnership as a game-changer for Indian enterprises, noting it would enable sovereign hosting and governance within India, lower inference costs, and accelerate AI adoption across sectors of national importance.
Reliance Retail's consumer biz to become direct arm of RIL
At the AGM, Reliance also announced that its consumer products business will become a direct subsidiary of Reliance Industries, a move aimed at bringing all of the group's consumer brands under a single, focused entity.
Speaking at the AGM, Isha Ambani, director of Reliance Retail, said India’s $2 trillion consumer market is expanding at over 8% annually and represents a “high-growth opportunity.”
While the Jio IPO dominated discussions at the AGM, investors were equally looking for a timeline on the proposed Reliance Retail IPO. However, the company offered no fresh update on its listing plans, leaving investors still awaiting clarity on when the retail business will head to the public markets.
