Reliance AGM 2026: Jio IPO timeline, AI ventures and energy projects in focus

Jio IPO: Reliance Jio ⁠Platforms, the AI-to-telecoms arm, ​is gearing up for a initial public offering (IPO) that will likely be India’s biggest ever. The company may sell shares worth as much as $4 billion, Reuters reported, though final numbers will be decided later. Investment bank Jefferies had estimated the Reliance Jio’s valuation at $180 billion in November.

Reliance Industries is the clear majority owner with a 67 per cent stake in Reliance Jio. Facebook parent Meta Platforms and Google owner Alphabet own 9.9 per cent and 7.73 per cent in Jio, respectively.

This year Reliance shares have declined roughly 15 per cent so far. The company’s net profit declined 13 per cent year-on-year in the March quarter as the Iran war affected its core refining operations. After the United States and Israel attacked Iran on February 28 and killed its Supreme Leader Ayatollah Ali Khamenei, Tehran effectively shuttered the Strait of Hormuz. A fifth of global fuel passes through this key maritime chokepoint.

AI roadmap: The company has recently unveiled a deeper partnership with Meta Platforms to develop an AI data centre in India. Reliance will build a 168-megawatt data centre in Jamnagar, Gujarat. Meta will lease this and will have an option to expand capacity as demand for AI computing rises. The new facility will become Meta’s first AI-enabled data centre in India, according to a press statement.

Meta increasing focus on India, one of its largest and fastest-growing markets will in this way be couple with it realising its AI infrastructure needs to power its products, services and future AI capabilities closer to millions of users in the country.

A special focus will be on the plan of action going forward as the AI race heats up. Experts have blamed India’s lack of AI play for the lacklustre performance of its stock markets at a time US public markets are exhibiting a red-hot form. Ambani has a chance to change that reality.

Reliance Retail: The company’s retail arm will be in focus. Led by Executive Director Isha Ambani, investors will closely track the vision for the future after the company reported revenue and net profit growth in the March quarter.

Dividend announcement: A dividend of Rs 6 will be declared per equity share of Rs 10, each fully paid-up of the company

Director appointments: An ordinary resolution will be tabled to appoint Reliance Jio Infocomm Chairman Akash Ambani and brother Anant Ambani, who serves on the boards of multiple group companies, as directors on the board of Reliance Industries.

What happened in the last AGM

At the 2025 AGM, it was announced that Reliance Intelligence will house the company’s artificial intelligence push and focus on AI innovation.

Reliance Jio has crossed 500 million customers and is aiming for an IPO by the first half of 2026, Ambani had announced last year. “I am sure that it will be a very attractive opportunity for all investors,” he said.

New partnerships in the realm of AI, this time with Google, were announced. Reliance would pool its infrastructure might with Google Cloud’s AI technologies. Alphabet and Google CEO Sundar Pichai had also addressed the AGM.

A key update on the electrolyser giga factory was given with projections suggesting it will become operational by end-2026 in a boost for “cost-competitive green hydrogen production at global scale”.

Reliance also made it public that it was developing one of the world’s largest single-site solar projects across 5,50,000 acres in Kutch, Gujarat.