Reliance AGM 2025: Mukesh Ambani Confirms Jio IPO by First Half of 2026

In a landmark announcement that could reshape India’s capital markets, Reliance Industries Limited (RIL) Chairman Mukesh Ambani confirmed during the company’s 48th Annual General Meeting (AGM) that Jio, the telecom and digital services arm of RIL, will make its much-awaited stock market debut in the first half of 2026.

Addressing shareholders, Ambani declared that Reliance Jio is gearing up for its Initial Public Offering (IPO), which he described as a “milestone event” not just for the company but for India’s growing digital economy.

“Jio is making all arrangements to file for its IPO. We are aiming to list Jio by the first half of 2026, subject to all necessary approvals,” Ambani told shareholders. “I assure you this IPO will demonstrate Jio’s capability to create the same quantum of value as our global counterparts. I am confident it will be a very attractive opportunity for all investors.”

The confirmation ends years of speculation around Jio’s public listing and signals Reliance’s intent to unlock significant value from one of its fastest-growing businesses.

The Long-Awaited Jio IPO

The anticipation for Jio’s IPO has been building ever since the company disrupted India’s telecom market in 2016 with free data and cheap calls, a move that reshaped consumer behavior and made internet access accessible to millions. Today, Jio is India’s largest telecom operator with over 470 million subscribers, and its growth story has consistently drawn comparisons with global giants such as Verizon, AT&T, and China Mobile.

Earlier in July 2025, a Reuters report suggested that Jio was working to boost revenues, expand its subscriber base, and strengthen digital offerings ahead of its IPO, aiming for a higher valuation. Industry watchers believe that the listing could be one of the biggest IPOs in Indian history, potentially rivaling tech mega-listings in global markets.

Jio’s Next Growth Priorities

During the AGM, Ambani also laid out five strategic priorities for Jio’s next phase of growth, offering a glimpse into the company’s vision beyond connectivity:

1. Universal Connectivity – Jio aims to connect every Indian through both mobile and home broadband, ensuring affordable access across urban and rural regions.

2. Digital Services for Households – The company plans to provide a wide bouquet of digital services to households, including entertainment, fintech, and health-tech offerings.

3. Digitization of Businesses – Jio intends to help Indian businesses, especially MSMEs, adopt secure and scalable digital platforms to improve productivity.

4. AI for Everyone – Under its “AI Everywhere for Everyone” initiative, Jio seeks to democratize artificial intelligence by embedding it in everyday services and industries.

5. Global Expansion – Ambani confirmed that Jio is preparing to take its services beyond Indian borders, signaling ambitions of becoming a truly international digital powerhouse.

Why This Matters

The announcement of Jio’s IPO comes at a time when global investors are keenly watching India’s digital growth story. With increasing smartphone penetration, rapid adoption of digital services, and government-backed pushes for AI and 5G, India is seen as the next big frontier for tech-led growth.

For Reliance, the IPO could unlock billions in value and give it fresh capital to expand its digital ecosystem—covering everything from telecom and broadband to e-commerce, fintech, cloud, and AI solutions. Analysts believe that Jio’s listing could set the tone for a new wave of Indian tech IPOs and attract unprecedented foreign investor interest.

If successful, Jio’s IPO could join the ranks of India’s largest listings, alongside LIC’s $2.7 billion debut in 2022 and Paytm’s $2.5 billion IPO in 2021. But unlike most, Jio carries the weight of being a profitable, market-leading company with the backing of Reliance’s vast empire.

For millions of investors, both retail and institutional, the Jio IPO is being seen as a once-in-a-generation opportunity to buy into India’s digital future.

As Mukesh Ambani put it, “This IPO will prove Jio’s ability to create value at par with our global peers.”

With the clock ticking towards 2026, India’s markets are bracing for what could be the biggest and most consequential IPO in the country’s history.