Reliance AGM 2026 Live Updates: Jio IPO Roadmap and Future AI Strategy Revealed

Mukesh Ambani-led Reliance Industries (RIL) held its 49th Annual General Meeting (AGM) on June 19, 2026. Ambani said at the meeting that the Draft Red Herring Prospectus (DRHP) for the proposed Jio IPO will be filed on the day itself, taking the telecom giant’s plan for a public listing forward by a big leap. He also reiterated the company’s strong commitment to artificial intelligence (AI) and gave a number of strategic updates.

At the AGM, the RIL Chairman outlined five key pathways for value creation in the future. These include the transition of the O2C business to oil-to-chemicals and advanced materials, acceleration of the New Energy segment as well as scaling Reliance Intelligence to provide AI solutions to every Indian.

Jio aims at growth in satellite communication

Akash Ambani, Chairman, Reliance Jio Infocomm Limited (RJIL said, “Jio is exploring the possibility of building a sovereign Low Earth Orbit (LEO) satellite network for India. This initiative aims to increase connectivity in remote villages, island regions and border areas with limited capacity of traditional networks.

He said Jio is also leasing satellite capacity and collaborating with leading global satellite providers. This will facilitate to accelerate the availability of the services in short term and build the long term indigenous satellite communication ecosystem for India.

Reliance Intelligence Constructs India’s Sovereign AI Backbone in Jamnagar

“Reliance Intelligence is building the sovereign AI backbone of India in Jamnagar,” Akash Ambani said at the AGM. The large scale infrastructure will be powered entirely by clean energy from Reliance’s solar projects in the Kutch renewable energy platform. The first phase of 120 megawatts capacity is expected to be operational by the end of 2026.

The company is also rolling out an initial fleet of the high-performance computing-focused, NVIDIA GB300 GPUs. “This next-gen compute power is equivalent to more than 75,000 H100 GPUs on an AI-inference basis,” said the Chairman of Jio. Once the first 120 megawatts is fully operational, the system is expected to scale up to more than two lakh H100 equivalent GPUs.

Reliance Retail Crosses 20,000 Stores, Sets New Growth Benchmark

Reliance Retail has reached a significant milestone by expanding its footprint to more than 20,000 stores in Q4 FY26. The company says it has achieved this scale faster than any other retailer in Asia, highlighting the rapid pace of its growth and expansion.

At the same time, JioMart has strengthened its position in India’s quick commerce space. The platform now operates through over 3,100 stores and serves customers in more than 1,200 cities across 5,100+ pin codes, giving it one of the widest delivery networks in the country.

Speaking about the company’s future, Mukesh Ambani emphasized that Reliance Retail’s ambition goes beyond becoming the world’s largest retailer. He said the long-term vision is to create the world’s most intelligent, humane, and inclusive consumer ecosystem—one that prioritizes innovation, accessibility, and customer-centric growth.

Reliance’s New Energy Business Poised for Major Growth

Providing an update on the group’s clean energy initiatives, Anant Ambani said Reliance’s New Energy business is expected to start making a meaningful contribution to the company’s financial performance from FY27 onward. This marks an important milestone in Reliance’s long-term sustainability and energy transition strategy.

He highlighted the progress of the Dhirubhai Ambani Green Energy Giga Complex, a massive 5,000-acre facility in Jamnagar that has evolved into one of the world’s most integrated clean energy manufacturing ecosystems. The complex is designed to support large-scale production across multiple renewable energy technologies.

Reliance is also accelerating investments in its Battery Energy Storage System (BESS) and Cell Giga Factory projects, with a target of achieving 120 GWh of annual production capacity. Once operational at full scale, the company expects to rank among the world’s largest manufacturers of lithium iron phosphate (LFP) batteries.