RIL AGM 2026 top points: Jio IPO moves ahead as Reliance bets big on AI and new energy

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Mukesh Ambani outlined five major value creation pathways that he believes will drive Reliance Industries' next phase of growth. The first focuses on transforming the Oil-to-Chemicals business by converting crude oil into high-value materials such as carbon fibre, speciality materials and green chemicals. The second pathway is the company's New Energy business, where Reliance expects accelerated commissioning of projects and early revenue generation.

The third pillar, dubbed 'Reliance Intelligence', centres on the company's artificial intelligence ambitions. Ambani said the infrastructure is being built at a rapid pace and is expected to become fully operational over the next couple of years. The fourth growth engine is the FMCG business, which he described as a new multi-billion-dollar opportunity with ambitions to become India's largest FMCG company and one of the biggest globally.

The fifth pathway is Reliance's export vision, which aims to expand global markets for Made-in-India brands. Ambani said these five growth engines together will create significant long-term value and position Reliance at the forefront of energy, technology, consumer products and global manufacturing.

Mukesh Ambani said Reliance is building five integrated growth engines spanning underground coal gasification (UCG), bioenergy, new energy, Oil-to-Chemicals and materials. He said the company's upcoming green energy ecosystem will not only transform its traditional energy business but also create significant opportunities for future growth. Ambani added that the combination of new energy, materials and AI-driven operations will help create a business model that is difficult to replicate at a global scale.

Highlighting India's energy security challenge, Mukesh Ambani said the country continues to depend on external sources for more than 70% of its energy requirements, making it vulnerable to geopolitical disruptions and rising costs.

Calling the situation unsustainable in the long run, Ambani said Reliance considers it its responsibility to help ensure India's future is not held hostage by energy insecurity. He added that the company is pursuing an integrated energy strategy spanning solar, battery storage, wind power, hydrogen, compressed biogas, bioenergy and underground coal gasification to support India's goal of energy self-reliance.

Mukesh Ambani introduced JioStar GenAI Media Studio, or JAMS, an AI-native content production platform designed to support everything from ideation and storytelling to image, audio and video production. He said the initiative aims to nurture a new generation of creators who can combine storytelling with artificial intelligence to produce content for India and global audiences.

Reliance's media and entertainment business reported revenue of Rs 34,917 crore in FY26. The segment, which includes JioStar, Jio Studios and Network18, posted EBITDA of Rs 5,842 crore and a net profit of Rs 3,434 crore during the year. Mukesh Ambani said the three businesses together now form India's most powerful media ecosystem.

Jio Platforms' proposed initial public offering will consist of a fresh issue of up to 27 crore equity shares with a face value of Rs 10 each, according to a stock exchange filing. The issue price will be determined through the book-building process. The IPO, which is expected to be one of the biggest in India's capital markets history, remains subject to regulatory approvals before it can proceed.

Akash Ambani said Jio is evaluating the development of a sovereign Low Earth Orbit (LEO) satellite constellation for India as it looks to strengthen the country's space capabilities. He added that the company is also partnering with leading global satellite constellation providers and building its own ground station infrastructure in India. According to Ambani, these efforts are aimed at boosting India's self-reliance in the space sector.

Speaking at the Reliance AGM, Akash Ambani said one of Jio's key strategic commitments is to make artificial intelligence accessible to everyone. He said the company plans to embed AI across its consumer technology platforms to offer smarter and more personalised user experiences. The announcement comes as Reliance sharpens its focus on AI-led growth across its digital ecosystem.

In a major announcement, Mukesh Ambani said the draft red herring prospectus (DRHP) for Jio Platforms has been approved and will be filed with market regulator Sebi today. The move marks a significant step towards the much-awaited Jio IPO and provides long-awaited clarity for investors tracking the telecom giant's stock market debut.

Mukesh Ambani said Reliance Industries invested Rs 1,44,271 crore in capital expenditure during FY26, underlining the group's continued focus on expansion across telecom, retail, energy and new-age technology businesses. Over the past five years, Reliance's cumulative capital expenditure has stood at Rs 6,48,428 crore, making it one of the country's biggest private-sector investors.

Reliance Industries reported consolidated revenue of Rs 11,75,919 crore in FY26, marking a 9.8% year-on-year increase. The growth comes amid strong contributions from the company's consumer-facing businesses, including telecom and retail, alongside its traditional energy operations.

Mukesh Ambani said Reliance Industries delivered record financial performance in FY26, with the company reporting its highest-ever revenue, EBITDA and net profit. The Reliance chairman highlighted the strength of the group's diversified businesses as it continued to expand across energy, telecom, retail and digital services.

Opening his address at Reliance Industries' 49th AGM, Chairman Mukesh Ambani congratulated Prime Minister Narendra Modi for completing 25 uninterrupted years in public office. Ambani described the milestone as unprecedented and noted that Modi has received the largest number of polled votes for any leader in the world. He also congratulated the Prime Minister on becoming India's longest-serving elected Prime Minister.

Mukesh Ambani has begun addressing shareholders at Reliance Industries' 49th Annual General Meeting. Investors are keenly watching for announcements related to Jio's IPO plans, AI initiatives, Reliance Retail and the group's clean energy projects, which are expected to be among the key highlights of the AGM.

The countdown has begun for Reliance Industries' 49th Annual General Meeting, which is scheduled to start at 2 pm IST. Chairman Mukesh Ambani is expected to address shareholders and provide updates on key businesses, including Reliance Jio, Reliance Retail, artificial intelligence initiatives and the group's new energy ventures. Investors will be closely watching for any announcement on the much-awaited Jio IPO timeline.

At Reliance Industries' 48th AGM in 2025, Mukesh Ambani announced plans to list Reliance Jio in the first half of 2026, calling it an attractive opportunity for investors. While that timeline has not been met, today's AGM is expected to provide clarity on the next steps for the much-awaited IPO.

Artificial intelligence emerged as a major focus area at the 2025 AGM, with Reliance announcing the formation of Reliance Intelligence, a wholly-owned subsidiary focused on building large-scale AI infrastructure. The company had outlined plans to develop AI-ready data centres and bring 'AI Everywhere for Everyone' through a range of technology initiatives.

With Jio's listing plans already in focus, investors are also watching for clues on the future of Reliance Retail and Reliance Consumer Products. The market will be keen to hear whether Reliance Industries sees a path towards separate listings for its consumer-facing businesses as it looks to unlock value for shareholders.

Reliance's ambitious new energy business is expected to remain under the spotlight at today's AGM. Investors are seeking updates on the company's solar manufacturing, battery production, green hydrogen, electrolyser manufacturing and biogas projects. Market participants will also be watching for progress reports on Reliance's energy complex in Kutch and timelines for scaling up these businesses.