Reliance AGM 2026: First Indian Company To Cross USD 10 Billion PAT; Jio Files DRHP With SEBI, Check Key Announcements

On Friday, Indian equity benchmarks traded lower, with the Nifty 50 declining 139.50 points, or 0.58 per cent, to 24,028.50. Amid the broader market weakness, Reliance-industries-ltd-100325">Reliance Industries' share price traded at Rs 1,308.90, down Rs 19.20 or 1.45 per cent during the session.

Jio Files Draft IPO Papers

The biggest announcement came as Mukesh Ambani confirmed that Reliance Jio filed its Draft Red Herring Prospectus (DRHP) with market regulator SEBI on June 19, 2026. Subsequently, the Board of Jio Platforms approved the filing of the DRHP with SEBI, BSE and NSE.

The proposed IPO comprises a fresh issue of up to 27 crore equity shares with a face value of Rs 10 each. At face value, the issue could raise approximately Rs 2,700 crore, although the final issue size will be determined through the book-building process and will remain subject to regulatory approvals. Ambani described the development as a deeply emotional moment and highlighted Reliance's long-standing relationship with its investors, built on trust, respect and shared growth.
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Reliance Reports Strong FY26 Performance

Reliance Industries delivered a strong operational and financial performance during FY26. Consolidated revenue increased 9.8 per cent year-on-year to Rs 11,75,919 crore, while EBITDA rose 13.4 per cent to Rs 2,07,911 crore. Profit after Tax grew 17.8 per cent to Rs 95,754 crore, making Reliance the first Indian company to cross USD 10 billion in annual net profit.

Retail and digital businesses together contributed nearly half of the group's total EBITDA during the year. Jio Platforms reported EBITDA growth of 18.8 per cent, while Reliance Retail generated annual revenue of Rs 3,70,026 crore, reflecting growth of 11.8 per cent. The company also invested Rs 1,44,271 crore in capital expenditure across new energy, telecom infrastructure and retail expansion initiatives.

Jio Crosses 524 Million Subscribers

Akash Ambani, Chairman of Reliance Jio Infocomm and Managing Director of Jio Platforms, said Jio's subscriber base has crossed 524 million users, maintaining its position as India's largest telecom operator. More than 13 million homes are connected through Jio AirFiber, while the company's 5G subscriber base has surpassed 268 million users after adding 77 million subscribers during FY26.

Akash Ambani outlined five strategic priorities for Jio's next growth phase, including migrating subscribers to Jio True 5G, contributing to global 6G standards, expanding broadband access across India, accelerating enterprise digitisation, making AI accessible to everyone and taking Indian technology innovations to global markets.

Reliance Expands AI Ambitions

Artificial intelligence emerged as a key theme during the announcements. Reliance highlighted the progress of Reliance Intelligence, which is being developed as a new AI-focused growth engine for the group. The first phase of its sovereign AI infrastructure at Jamnagar, with a capacity of 120 MW, is expected to be commissioned by the end of 2026 and will be powered by Nvidia GB300 GPUs.

The company also announced that its partnership with Google has evolved into an AI-first collaboration, with Google AI Pro powered by Gemini being offered free to Jio users. Through Reliance Intelligence, enterprises will be able to host AI models within India while retaining ownership and control of their data and applications.

New AI Products Announced

Among the key product launches was the Jio Call Agent, an AI-powered voice assistant integrated directly into the Jio network. The service supports all Indian languages and can perform functions such as real-time call transcription, speaker identification, meeting summaries and task execution during live calls, including booking cabs, ordering food and scheduling meetings.

Reliance also introduced Jio Teleframe, a platform specifically designed for AI agents. In the media segment, JioHotstar recorded 451 million monthly active users during FY26, while short-video platform Tadka crossed 100 million users within two months of launch. The company also unveiled JioStar GenAI Media Studio to integrate AI into content creation and media production workflows.

Meta To Set Up AI Data Centre In Jamnagar

Reliance confirmed that Meta has selected Jamnagar as the location for its first AI-enabled data centre in India. The site was chosen due to its access to renewable energy, desalinated water resources, submarine cable connectivity and Jio's fibre network infrastructure.

The facility will operate on renewable energy and use desalinated seawater for cooling, while Meta will bear the full operational costs related to energy and water consumption.

Satellite Broadband Plans

Jio also outlined its plans to evaluate the development of a sovereign Low Earth Orbit (LEO) satellite constellation for India. The company is building ground station infrastructure to support satellite-based connectivity and is partnering with leading global satellite operators while assessing its own satellite network opportunities.

According to Akash Ambani, after building connectivity on the ground, connecting India from the skies represents the next major growth opportunity for Jio.

About Reliance Industries

Reliance Industries Ltd is India's largest private-sector enterprise with businesses spanning energy, petrochemicals, retail, telecommunications, digital services, media and new energy. Through Jio Platforms and Reliance Retail, the company continues to expand its footprint across India's digital economy while investing heavily in future technologies such as artificial intelligence, data centres and next-generation connectivity solutions.

What are your thoughts on Jio's proposed IPO and Reliance's aggressive expansion into AI, data centres and satellite connectivity? Share your views in the comments below.
Disclaimer: The article is for informational purposes only and not investment advice.