Reliance Industries Chairman Mukesh Ambani
In the 49th Annual General Meeting (AGM) of Reliance Industries (RIL), the company made many big announcements regarding the direction of its future development. Mukesh Ambani, Akash Ambani and Anant Ambani shared plans with investors ranging from Jio IPO to expansion of Artificial Intelligence, New Energy and O2C business. The company’s focus will be on technology, green energy and digital services in the coming years.
1. DRHP filing for Jio IPO will happen today
The biggest announcement of the AGM was regarding the much awaited IPO of Jio Platforms. Reliance Chairman Mukesh Ambani said that the board of Jio Platforms has approved the draft red herring prospectus (DRHP) for the IPO and it will be filed with market regulator SEBI on June 19 itself. In the proposed IPO, 27 crore new shares with face value of Rs 10 will be issued. Investors were waiting for the listing of Jio for a long time and after this announcement there was enthusiasm in the market.
2. Preparation for entry into satellite communication
Reliance Jio Infocomm Chairman Akash Ambani said that the company is considering developing an indigenous low-Earth orbit (LEO) satellite constellation for India. Its objective is to provide high-speed internet and digital connectivity to remote villages, islands and border areas of the country. He said that Jio is also planning to lease satellite capacity by partnering with global satellite companies so that services can be expanded rapidly.
3. India’s sovereign AI backbone will be built in Jamnagar
Akash Ambani said that a big announcement regarding AI was also made in the AGM. Akash Ambani said that Reliance Intelligence is preparing India’s sovereign AI backbone in Jamnagar. This data center will run entirely on clean solar energy provided by Reliance’s renewable energy platform in Kutch. This project with initial capacity of 120 MW is expected to start by the end of 2026. The company is also deploying NVIDIA’s state-of-the-art GB300 GPU systems, which will boost AI capabilities in India.
4. Reliance Retail crosses the mark of 20,000 stores
Mukesh Ambani presented some figures in the meeting regarding Reliance Retail. He said that Reliance Retail has achieved the important milestone of 20,000 stores in the fourth quarter of financial year 2026. The company claims that no retailer in Asia has built such a large network so quickly.
Apart from this, JioMart has now joined the country’s largest quick commerce network. The company has more than 3,100 stores and is serving more than 1,200 cities through more than 5,100 pin codes. Mukesh Ambani said that in the coming years, Reliance Retail aims to become the world’s most intelligent and inclusive consumer ecosystem.
5. O2C business will get a new look
Mukesh Ambani said that Reliance is converting its O2C (Oil-to-Chemicals) business into Oil-to-Chemicals and New Materials business. He said the company is moving towards making its O2C operations carbon-neutral by 2050, which will be about 20 years ahead of India’s 2070 net-zero target. The company’s goal is to convert almost all the oil refined in the future into chemicals and new materials. Reliance has also signed a long-term agreement worth $3 billion with Samsung C&T for green ammonia supply.
6. New energy business will contribute to earnings from FY27
At the same time, Anant Ambani gave important updates regarding Reliance’s new energy business. He said that from financial year 2027 the new energy business will start contributing significantly to the financial performance of the company. Dhirubhai Ambani Green Energy Giga Complex, developed on 5,000 acres in Jamnagar, has become one of the world’s largest and integrated clean energy manufacturing hubs. The company has set a target of increasing the annual capacity of its Battery Energy Storage System (BESS) and Cell Giga Factory to 120 GWh. According to Anant Ambani, with this, Reliance can join the world’s largest companies manufacturing Lithium Iron Phosphate (LFP) batteries.
Focus on value creation through 5 ways
Apart from these 6 things, Mukesh Ambani has given 5 more ways for value creation of the company. At the AGM, Mukesh Ambani said that Reliance will further move towards transformation of O2C business, expansion of new energy projects, making AI based Reliance Intelligence available to every Indian, strengthening the FMCG business and achieving the export target of $ 125-150 billion by 2032. The company will work on all these.
Also read- RIL AGM: Final done, now this IPO of Mukesh Ambani’s company is coming to create a stir.
