Reliance Industries Limited (RIL) Chairman Mukesh Ambani announced plans to list Jio Platforms on the stock market by the first half of 2026, subject to regulatory approvals, at the company's 48th Annual General Meeting. The highly anticipated initial public offering (IPO) could potentially value Jio Platforms at $134-146 billion, positioning it among India's top five companies by market capitalization.

Jio's Growth and IPO Plans

Jio Platforms, which operates Reliance Jio, India's largest telecom operator with over 500 million subscribers, has seen remarkable growth since its inception. Mukesh Ambani stated, "I am sure that it will be a very attractive opportunity for all investors." The IPO is expected to provide exits for 14 global investors who invested Rs 1.52 lakh crore in 2020 at a $65 billion valuation, potentially doubling their returns.

Jio's financial performance has been impressive, with revenues reaching Rs 1,28,218 crore ($15.0 billion), a 17% year-on-year growth. The company's EBITDA stood at Rs 64,170 crore ($7.5 billion).

Strategic AI Partnerships

Reliance Industries also announced significant partnerships in the field of Artificial Intelligence (AI):

1. Google Cloud Partnership: RIL and Google Cloud are expanding their collaboration to accelerate India's AI adoption. Google Cloud will establish a state-of-the-art, AI-focused cloud region dedicated to Reliance in Jamnagar. This partnership aims to deliver cutting-edge, secure AI infrastructure powered by green energy and connected by Jio's advanced digital network.

2. Meta Joint Venture: Reliance and Meta (formerly Facebook) are forming a new AI-focused joint venture. The companies have jointly committed an initial investment of approximately Rs 855 crore ($100 million) to capitalize the venture, with RIL holding 70% and Meta 30%. This partnership will develop Llama-based enterprise AI solutions for Indian businesses.

New Energy and Retail Expansion

Ambani also highlighted Reliance's progress in the New Energy sector:

• Construction of the Dhirubhai Ambani Giga Energy Complex in Jamnagar is progressing rapidly.
• The company aims to scale up to 3 MMTPA of green hydrogen equivalent production capacity by 2032.
• Reliance is developing one of the world's largest single-site solar projects in Kutch, Gujarat, spanning 550,000 acres.

In the retail sector, Reliance Retail reported gross revenue growth of 8% to Rs 3,30,943 crore ($38.7 billion). The company aims to deliver 20%+ CAGR in retail revenues over the next three years.

Conclusion

The announcements made at Reliance's AGM underscore the company's commitment to leading India's digital transformation and clean energy transition. With the upcoming Jio Platforms IPO and strategic AI partnerships, Reliance is positioning itself at the forefront of technological innovation and sustainable growth in India.

Mukesh Ambani concluded, "Reliance will more than double its EBITDA by the end of its Golden Decade in 2027," reaffirming the company's ambitious growth targets across its diverse business portfolio.

Jio Platforms Ltd , a leading Indian digital services company, has reported impressive growth in its June quarter results, showcasing strong performance across key metrics.

Robust Financial Performance

The company announced a substantial 25% year-on-year increase in net profit, reaching Rs 7,110.00 crore for the June quarter. This growth was primarily driven by continued additions to its data user base. Revenue from operations also saw a significant uptick, growing by 19% to Rs 35,032.00 crore.

Milestone Achievements in Subscriber Base

Jio Platforms has achieved remarkable milestones in its subscriber base:

• Crossed the 200 million mark for 5G subscribers
• Reached 20 million home broadband connections, up from 17.4 million in the previous quarter
• Total subscriber base increased to 498.1 million, with 9.9 million new users added during the quarter

Improved Operational Metrics

The company's operational performance showed notable improvements:

ARPU and EBITDA Growth

• ARPU increased by 1.3% sequentially to Rs 208.80
• EBITDA margin improved to 51.80% from 50.10% in the previous quarter

Jio AirFiber's Global Leadership

Jio AirFiber, the company's fixed wireless access service, has emerged as a global leader:

• Became the world's largest fixed wireless access service provider
• Amassed 7.4 million subscribers

Data Consumption Trends

The company witnessed a significant increase in data consumption:

• Per capita data consumption grew to 37.00 GB per month from 33.60 GB
• Total wireless data consumption reached 54.70 billion GB

This robust performance across various segments underscores Jio Platforms' strong position in India's digital services market, with continued growth in subscribers, revenue, and data consumption.