Reliance Jio Plans IPO by 2026, Forms AI Partnerships with Meta and Google

Billionaire Ambani plans to take Reliance Jio public by mid-2026

Aug 29 (Reuters) - India's Reliance Industries (RELI.NS), opens new tab is planning to take its telecoms and digital arm Jio Platforms public by mid-2026, its billionaire chairman said on Friday, a new timeline for the long-delayed IPO of a business valued at over $100 billion. At its annual general meeting on Friday, Reliance also said it was creating an artificial intelligence unit, with Alphabet's Google (GOOGL.O), opens new tab and Meta (META.O), opens new tab as strategic partners. The group's billionaire chairman Mukesh Ambani first flagged plans in 2019 to list Jio within five years. On Friday he told shareholders that Jio is preparing to file for an IPO next year. Reuters reported exclusively in July that Jio had decided not to launch its planned IPO in 2025. It was valued by analysts at over $100 billion at that time. Jio Platforms houses India's largest telecom operator, Reliance Jio Infocomm, which has over 500 million users. Backed by global investors including Meta, Google and KKR (KKR.N), opens new tab, it has been central to Ambani's push to diversify Reliance beyond oil and chemicals into consumer, retail and technology, with AI now a key pillar of its growth strategy along with expansion overseas. Reliance is also investing $8.8 billion to grow its chemicals business. It expects its retail business to continue growing sales by approaching 10% a year on a like-for-like basis, and to add 2,000-3,000 new stores annually. Jio is not being fully valued within Reliance's broader petrochemicals and retail portfolio, and a separate listing would help unlock higher value for the telecom and digital unit, said Saurabh Parikh, senior analyst at ICRA Ltd. AI FOR ALL Reliance and Meta on Friday announced a new AI joint venture with an initial investment of about $100 million. Meta CEO Mark Zuckerberg told the AGM the new unit will deliver Meta's open-source AI models to Indian businesses. Google is partnering with Reliance to use AI across the conglomerate's energy, retail, telecom and financial services businesses, and will establish a Jamnagar Cloud region dedicated to Reliance, Google CEO Sundar Pichai told the AGM. The partnerships come at a time when ties between India and Washington have been strained due to U.S. President Donald Trump's 50% tariffs on Indian exports, a response to India buying Russian oil. Reliance operates the world's largest refining complex in the western state of Gujarat and is also the biggest buyer of Russian oil in India. Reporting by Chandini Monnappa, Aleef Jahan and Kashish Tandon in Bengaluru; Editing by Tomasz Janowski and Jan Harvey Our Standards: The Thomson Reuters Trust Principles., opens new tab * Suggested Topics: * India * Refining * Transport Fuels Chandini Monnappa Thomson Reuters Chandini Monnappa leads a team of reporters at Reuters overseeing coverage of European companies. She has helped run various breaking news teams over the last seven years, covering corporate news across the UK, South Africa, Australia, and Asia. She has previously reported on automaker and consumer retail firms in India and frequently contributes to the coverage of Indian general and political news.

Ambani's Reliance plans to take Jio public by 2026, chairman says

Aug 29 (Reuters) - Mukesh Ambani-led Reliance Industries (RELI.NS), opens new tab is planning to take its telecoms and digital arm Jio Platforms public by mid-2026, its chairman said on Friday, one of India's most anticipated listings. At its annual general meeting on Friday, Reliance also said it was creating an artificial intelligence unit with Alphabet's Google (GOOGL.O), opens new tab and Meta (META.O), opens new tab as strategic partners. The group's billionaire chairman Mukesh Ambani first flagged plans in 2019 to list Jio within five years. On Friday he told shareholders at the AGM that Jio is preparing to file for an IPO next year. Reuters reported exclusively in July that Jio had decided not to launch its planned IPO in 2025. It was valued by analysts at over $100 billion at that time. Jio is not being fully valued within Reliance's broader petrochemicals and retail portfolio, Saurabh Parikh, senior analyst at ICRA, said, and a separate listing would help unlock higher value for the telecom and digital unit. Jio Platforms houses India's largest telecom operator, Reliance Jio Infocomm, which has over 500 million users. Backed by global investors including Meta, Google and KKR (KKR.N), opens new tab, it has been central to Ambani's push to diversify Reliance beyond oil and chemicals into consumer, retail and technology, with AI now a key pillar of its growth strategy. Reliance and Meta on Friday announced a new AI joint venture with an initial investment of about $100 million. Meta CEO Mark Zuckerberg told the AGM the new unit will deliver Meta's open-source AI models to Indian businesses. Google CEO Sundar Pichai also told the AGM his company is partnering with Reliance to use AI across its energy, retail, telecom and financial services businesses, and will establish a Jamnagar Cloud region dedicated to Reliance. Reliance also outlined five priorities for Jio's next phase of growth, which includes driving an "AI Everywhere for Everyone" push and expanding operations overseas. Reporting by Chandini Monnappa and Kashish Tandon in Bengaluru; Editing by Tomasz Janowski and Jan Harvey Our Standards: The Thomson Reuters Trust Principles., opens new tab * Suggested Topics: * India * Refining * Transport Fuels Chandini Monnappa Thomson Reuters Chandini Monnappa leads a team of reporters at Reuters overseeing coverage of European companies. She has helped run various breaking news teams over the last seven years, covering corporate news across the UK, South Africa, Australia, and Asia. She has previously reported on automaker and consumer retail firms in India and frequently contributes to the coverage of Indian general and political news.

Jio Platforms set for market debut in first half of next year, says RIL Chairman Mukesh Ambani

Reliance Industries (RIL), the country's most valued company, plans to list its digital venture, Jio Platforms, by the first half of 2026, chairman Mukesh Ambani said at the annual general meeting on Friday. Jio Platforms runs Reliance Jio, India's biggest telco, which has more than half a billion subscribers. The initial public offering (IPO), which could be the country's biggest, will offer exits to some of the 14 global investors at about double their initial commitments made five years ago. At the AGM, Ambani made a slew of other announcements, including pacts with global tech majors Google and Meta, as he underlined the importance of AI and cloud for the conglomerate. RIL also plans a ₹40,000-crore investment over three years in its fast-moving consumer goods (FMCG) business to open integrated food parks. The chairman spoke about the global economy passing through great uncertainty amid geopolitical tensions, and called on nations to cooperate, which would lead to a free flow of trade, investments and overall prosperity. "Jio is making all arrangements to file for its IPO... We are aiming to list by the first half of 2026, subject to all necessary approvals," Ambani told shareholders of RIL. "I assure you this will demonstrate that Jio is capable of creating the same quantum of value as our global counterparts." Among Top 5 by Mcap | page 7 "I am sure it (IPO) will be a very attractive opportunity for all investors," said Ambani. Nearly a decade after RIL's venture stormed India's telecom landscape and upended the rules of the game, the listing could value Jio at $134-146 billion (Rs 11.2 lakh crore-12.19 lakh crore), according to some analysts' estimates. That would put the company among India's top five companies by market capitalisation. Ambani added that Jio would expand its operations outside India, taking its own technology to companies around the world. The telco has crossed 500 million subscribers - the second-largest base for any telecom operator worldwide, after China Mobile. Jio contributes around 85% to Jio Platforms' revenue. Jio's closest telecom rival, Bharti Airtel, had a market cap of Rs 10.77 lakh crore at close of trade on Friday. RIL market capitalisation was at Rs 18.36 lakh crore. Back in 2020, 14 global tech giants, sovereign wealth funds and private equity funds - including Google, Meta, Silver Lake and Mubadala - invested some Rs 1.52 lakh crore ($20.6 billion) in Jio Platforms at a valuation of $65 billion. A 5% stake dilution could fetch it Rs 58,000-64, 000 crore. India's top IPOs so far have been Hyundai Motor India (over Rs 27,870 crore), LIC (Rs 20,557.2 crore) and One97 (Rs18,300 crore). Globally, Saudi Aramco raised $25.6 billion in 2019, in the world's largest IPO, while China's Alibaba raised $21.8 billion in 2014. Mega Partnerships Ambani said RIL has formed a joint venture with global open source AI leader Meta to build enterprise artificial intelligence solutions for India and international markets. RIL and Mark Zuckerberg-led major have jointly committed to an initial investment of Rs 855 crore ($100 million) in a ratio of 70% and 30%, respectively. The transaction is expected to close in the fourth quarter of this year, subject to regulatory approvals. "I believe that this venture will become a model for how AI - and one day super-intelligence - can be delivered to everyone," said Zuckerberg, chief executive, Meta Platforms. "Meta and Reliance are going to deliver our open source AI models to Indian businesses to help them fuel their work." Meanwhile, Google has announced the Jamnagar cloud region, built for and dedicated to RIL. "It will bring world-class AI and compute from Google Cloud, powered by clean energy from Reliance and connected by Jio's advanced network," said Sundar Pichai, chief executive, Alphabet. He added that the two are partnering for Reliance's AI-led transformation across energy, retail, telecom and financial services. Towards its AI focus, Reliance formed another new venture called Reliance Intelligence aimed at building AI-ready data centres, housing global partnerships, and to build AI services for India and acquire world-class talent. "Reliance Intelligence will build gigawatt scale AI-ready data centres powered by green energy and engineered for training and inference at national scale," said Ambani, adding that work has already begun on the gigawatt scale AI data centres in Jamnagar, Gujarat. The firm will also deliver affordable AI services for consumers, small businesses and enterprises, and solutions across sectors like education, healthcare, and agriculture, he added. Jio AI cloud, which promised 100 GB free cloud storage to consumers, has now scaled up to 40 million users to store photos, files and videos. Jio is now aiming to move beyond storage and create an "AI-powered memory companion," said Aakash Ambani, chairman, Reliance Jio. Uncertain Geopolitics The chairman started his speech by addressing the geopolitical turmoil surrounding nations today. "The global economy today is navigating through an era of great uncertainty. Geopolitical tensions are rising, volatility is persistent, and predictability is scarce. The world is realising that conflict produces no winners, whereas cooperation ensures shared prosperity. When nations cooperate, trade flows freely, investments flourish and everyone wins," Ambani said. His remarks come days after India began paying a 50% tax on exports to the US, which includes a 25% punitive penalty linked to purchases of Russian oil. Last week, US Treasury Secretary Scott Bessent said India was making windfall profits by buying discounted Russian crude, refining it into fuels, and reselling the products to Europe and other regions that have sanctioned Moscow.

Jio Platforms Set for Market Debut Next Year

Reliance Industries (RIL), the country's most valued company, plans to list its digital venture, Jio Platforms, by the first half of 2026, chairman Mukesh Ambani said at the annual general meeting on Friday. Reliance Industries (RIL), the country's most valued company, plans to list its digital venture, Jio Platforms, by the first half of 2026, chairman Mukesh Ambani said at the annual general meeting on Friday. Jio Platforms runs Reliance Jio, India's biggest telco, which has more than half a billion subscribers. The initial public offering (IPO), which could be the country's biggest, will offer exits to some of the 14 global investors at about double their initial commitments made five years ago. At the AGM, Ambani made a slew of other announcements, including pacts with global tech majors Google and Meta, as he underlined the importance of AI and cloud for the conglomerate. RIL also plans a ₹40,000-crore investment over three years in its fast-moving consumer goods (FMCG) business to open integrated food parks. The chairman spoke about the global economy passing through great uncertainty amid geopolitical tensions, and called on nations to cooperate, which would lead to a free flow of trade, investments and overall prosperity. "Jio is making all arrangements to file for its IPO... We are aiming to list by the first half of 2026, subject to all necessary approvals," Ambani told shareholders of RIL. "I assure you this will demonstrate that Jio is capable of creating the same quantum of value as our global counterparts." "I am sure it (IPO) will be a very attractive opportunity for all investors," said Ambani. Nearly a decade after RIL's venture stormed India's telecom landscape and upended the rules of the game, the listing could value Jio at $134-146 billion (Rs 11.2 lakh crore-12.19 lakh crore), according to some analysts' estimates. That would put the company among India's top five companies by market capitalisation. Ambani added that Jio would expand its operations outside India, taking its own technology to companies around the world. The telco has crossed 500 million subscribers -- the second-largest base for any telecom operator worldwide, after China Mobile. Jio contributes around 85% to Jio Platforms' revenue. Jio's closest telecom rival, Bharti Airtel, had a market cap of Rs 10.77 lakh crore at close of trade on Friday. RIL market capitalisation was at Rs 18.36 lakh crore. Back in 2020, 14 global tech giants, sovereign wealth funds and private equity funds -- including Google, Meta, Silver Lake and Mubadala -- invested some Rs 1.52 lakh crore ($20.6 billion) in Jio Platforms at a valuation of $65 billion. A 5% stake dilution could fetch it Rs 58,000-64, 000 crore. India's top IPOs so far have been Hyundai Motor India (over Rs 27,870 crore), LIC (Rs 20,557.2 crore) and One97 (Rs18,300 crore). Globally, Saudi Aramco raised $25.6 billion in 2019, in the world's largest IPO, while China's Alibaba raised $21.8 billion in 2014. Ambani said RIL has formed a joint venture with global open source AI leader Meta to build enterprise artificial intelligence solutions for India and international markets. RIL and Mark Zuckerberg-led major have jointly committed to an initial investment of Rs 855 crore ($100 million) in a ratio of 70% and 30%, respectively. The transaction is expected to close in the fourth quarter of this year, subject to regulatory approvals. "I believe that this venture will become a model for how AI - and one day super-intelligence - can be delivered to everyone," said Zuckerberg, chief executive, Meta Platforms. "Meta and Reliance are going to deliver our open source AI models to Indian businesses to help them fuel their work." Meanwhile, Google has announced the Jamnagar cloud region, built for and dedicated to RIL. "It will bring world-class AI and compute from Google Cloud, powered by clean energy from Reliance and connected by Jio's advanced network," said Sundar Pichai, chief executive, Alphabet. He added that the two are partnering for Reliance's AI-led transformation across energy, retail, telecom and financial services. Towards its AI focus, Reliance formed another new venture called Reliance Intelligence aimed at building AI-ready data centres, housing global partnerships, and to build AI services for India and acquire world-class talent. "Reliance Intelligence will build gigawatt scale AI-ready data centres powered by green energy and engineered for training and inference at national scale," said Ambani, adding that work has already begun on the gigawatt scale AI data centres in Jamnagar, Gujarat. The firm will also deliver affordable AI services for consumers, small businesses and enterprises, and solutions across sectors like education, healthcare, and agriculture, he added. Jio AI cloud, which promised 100 GB free cloud storage to consumers, has now scaled up to 40 million users to store photos, files and videos. Jio is now aiming to move beyond storage and create an "AI-powered memory companion," said Aakash Ambani, chairman, Reliance Jio. The chairman started his speech by addressing the geopolitical turmoil surrounding nations today. "The global economy today is navigating through an era of great uncertainty. Geopolitical tensions are rising, volatility is persistent, and predictability is scarce. The world is realising that conflict produces no winners, whereas cooperation ensures shared prosperity. When nations cooperate, trade flows freely, investments flourish and everyone wins," Ambani said. His remarks come days after India began paying a 50% tax on exports to the US, which includes a 25% punitive penalty linked to purchases of Russian oil.

Reliance AGM 2025: Jio crosses 500 million customers, aims IPO by H1FY27, Mukesh Ambani says

Mukesh Ambani announced that Jio now has 500 million customers. He spoke at Reliance Industries' annual general meeting. Jio plans to file for an IPO in the first half of next year. Ambani highlighted Jio's role in ending digital poverty in India. He also mentioned Jio's contribution to India's digital infrastructure and 5G rollout. Mukesh Ambani on Friday said that Reliance Industries' telecom venture Jio has become a family of 500 million customers and is also set to file for its Initial Public Offering (IPO) by first half of next year. Speaking at the company's 48th annual general meeting, Ambani said Jio had ended India's "digital poverty" within a few years of launch and transformed how people use mobile services. For FY24, Jio reported revenues of ₹1,28,218 crore. Ambani said the company is now making all arrangements for an IPO to unlock global investor value. "Jio made voice calls free from anywhere to everywhere in India and made it a habit of common Indians to watch videos on their phones," he told in his address to shareholders. Also Read: Reliance AGM 2025 Key Takeaways- RIL is developing AI as its new growth engine, says chairman Mukesh Ambani He listed five major achievements of Jio since its launch in 2016. The company laid the foundation for India's digital public infrastructure such as Aadhaar and UPI, enabled the rise of the world's third-largest startup ecosystem with more than 100 unicorns, and rolled out 5G networks that have laid the groundwork for the AI revolution in India. Further, Ambani also shared the plans to take Jio global with its in-house tech.

Reliance Jio IPO Planned For First Half Of 2026

Reliance Industries (RIL) has announced its plans for an Initial Public Offering (IPO) of its telecom business, Reliance Jio, by the first half of 2026, in its Annual General Meeting (AGM). "As we look ahead, Jio's journey will be beyond India. Our innovative technologies are ready to be deployed globally," Chairman of Reliance Jio Infocomm Limited (RJIL), Akash Ambani, mentioned, while discussing future plans. Notably, the company has launched a range of products and also discussed plans to expand its JioStar entertainment offering beyond India. Once the company releases its red herring prospectus, it will be easier to get a more granular look at its inner workings, performance, and strategies. Given Jio's dominance in the telecom industry, its IPO document would reveal details of risks within the ecosystem, and its plans for competitive positioning against telco peers Airtel and Vodafone Idea (Vi). Besides telecom, as a result of Jio's expansion into other domains, this IPO will also shed light on the risks and opportunities in the streaming business in India. The company announced the creation of its AI-focused wholly owned subsidiary, Reliance Intelligence. This subsidiary will have four clear missions: Mukesh Ambani also mentioned that the company is investing in human-centric robotics powered by AI. "We are investing to make India a leader in human-centric robotics powered by AI, creating new types of industries and services, new types of agriculture, [and] new types of jobs," he added.