Reliance AGM 2025 Highlights: Jio IPO likely by first half of 2026, new AI subsidiary announced; RIL stock drops 2% | Stock Market News

Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments said that RIL stock continued in the pattern of drifting down on the AGM day during the last 4 years. Today was no different with the stock declining by a whopping ₹40 from the peak.

“It appears that the selling is more technical than driven by fundamentals or disappointments on the expectations front. The big appointments relating to clean energy, AI, FMCG business, international aspirations and global collaborations are all positive. Also, the announcement of Jio listing in H1 2026 is positive since it will help in value unlocking. Mukesh Ambani’s declaration of targeting to double EBITDA by 2027 is a strong bullish signal. Investors should ignore the temporary volatility in the stock price and focus on the long-term potential which appears very bright,” says Vijayakumar.

The Jio share sale would mark Reliance’s first public offering of a major business unit since Reliance Petroleum Ltd. debuted in 2006, according to a Bloomberg report.

Global giants like Meta Platforms Inc. and Alphabet Inc.’s Google were among the global tech giants that poured over $20 billion into Reliance’s telecom venture in 2020.

Mukesh Ambani had first hinted about the potential listing of Reliance Jio Infocomm Ltd. in 2019, mentioning it would happen within a five-year time frame.

“The best of Reliance is yet to come. In 2022, I made a promise that we will double Reliance by the end of our Golden Decade in 2028. At that time, our EBITDA was about ₹1.25 lakh crore ($ 14.6 billion). I reiterate that Reliance will more than double its EBITDA by the end of its Golden Decade,” says Mukesh Ambani.

This year, I announced the creation of two new large growth engines –RCPL and Reliance Intelligence. Each of them has the potential to grow larger than our existing business segments, says Mukesh Ambani.

Reliance AGM 2025 LIVE: New Energy business will be a major driver of growth for many decades, with the potential to become as big as our Oil-to-Chemicals business within the next 5-7 years, says Mukesh Ambani.

“As I look to the future, I see our O2C business achieving substantial growth and delivering stable returns as geopolitical tensions subside. I also see rapid, innovation-driven growth in our materials business. We are well-positioned to produce high-value green fuels and chemicals, which India and the world will need,” said Mukesh Ambani.

In just one generation, Reliance has transformed itself from a Fortune 1000 company to a Fortune 40 global powerhouse, creating over $200 billion in value – all within India, says Mukesh Ambani.

Reliance AGM 2025 LIVE: RIL shares end lower at ₹1357.05 apiece on the BSE on Friday, August 29, down 2.21%. The fall in the stock came despite the company announcing multiple bing-bang announcements ranging from Jio IPO, AI partnerships, new subsidiary and growth in retail and new energy business.

“Our battery giga factory will start in 2026. It will begin with 40 GWh per year capacity and expand modularly to 100 GWh per year. Our electrolyser giga factory will also be operational by end-2026, with the ability to scale up to 3 GW per year. Together, these platforms create a multi-pronged, gigawatt-scale clean energy ecosystem – Solar, Battery storage, Hydrogen – all under one roof,” says Anant Ambani.

“In the coming quarters, we will expand to 10 GWp per annum of fully integrated annual solar PV manufacturing capacity. Then, we will scale further to 20 GWp capacity. This will be the largest solar manufacturing facility, and the most integrated single-site solar complex globally,” says Anant Ambani.

At Jamnagar, work on the Dhirubhai Ambani Giga Energy Complex is progressing at record pace. It will be unmatched globally in size, scale, and integration. Here is the first glimpse of construction on this site:

· 5 million manhours of engineering

· 44 million square feet of building area – four times the Tesla Gigafactory

· 3.4 million cubic meters of concrete

· 7 lakh tonnes of steel – equal to 100 Eiffel Towers

· 1 lakh kilometres of cable – enough to reach the moon and back

Over 50,000 workers at peak, supported by extensive construction automation: Anant Ambani

We are building the world’s most integrated New Energy ecosystem –from sand to electrons to green molecules – at a scale unmatched anywhere in the world.

Our AI-driven, smart giga-factories are designed to be future-proof, keeping Reliance ahead in technology, ahead in cost-efficiency, and ahead in reliability.

Products from the giga factories would be deployed for delivering round-the-clock renewable power and producing green chemicals, including green ammonia, e-methanol, and sustainable aviation fuel. With immense pride, I can say that Reliance will be the world’s only fully integrated, self-sufficient company in New Energy.

— Anant Ambani

Reliance AGM 2025 LIVE: “Over the past year, Jio-BP has strengthened its position as one of India’s fastest-growing fuel and mobility players. We have expanded our retail network to serve customers across key highways, urban hubs, and growth corridors. We have introduced differentiated fuels with ACTIVE technology, delivering better mileage and engine performance. Our EV charging and swapping infrastructure has grown rapidly, making Jio-bp a trusted partner in India’s pivot to electric mobility,” says Anant Ambani.

We are investing ₹75,000 crore ($8.8 billion) in new projects: Nagothane: 1.2 million tonne PVC plant; Dahej: Expanded CPVC and 3 million tonne PTA facility; Palghar: 1 million tonne specialty polyester facility

These projects are positioned to meet India’s rising demand, says Anant Ambani.

“Across facilities, we are shifting to clean fuels. Our efficiency programmes have delivered 10 million gigajoules of energy savings in three years,” says Anant Ambani.

“Our Net Carbon Zero commitment by 2035 is not just a pledge. It is a strategic transformation that positions Reliance advantageously in evolving energy markets. Our SEZ refinery has been recognised as the world’s most energy-efficient facility,” says Anant Ambani.

“Our operational excellence is evident in 100% capacity utilisation, far higher than the global average of 80%. This directly translates into superior capital returns. And it validates the strength of our model,” says Anant Ambani.

Reliance AGM 2025 LIVE: The past year brought extraordinary complexity in global energy markets. Supply chain disruptions, trade shifts, and petrochemical overcapacity posed major challenges. In this dynamic environment, Reliance delivered industry-leading performance.

Our success rests on advantages unique to us, said Anant Ambani.

· Operational excellence

· Feedstock flexibility

· Supply chain agility

· Deep market reach

· Technology-driven innovation

Reliance AGM 2025 LIVE: Marking his first appearance at RIL AGM, Anant Ambani shared updates and outlook for the new energy business.

Our Consumer Products business, RCPL is set to become a direct subsidiary of RIL. This will consolidate all our consumer brands into a single, sharply focused company. Let me explain the benefits of this decision, says Isha Ambani:

First: India’s consumer market is a $2 trillion high-growth opportunity, expanding at over 8% annually. We need a strategic approach to seize this opportunity.

Second: Our 350 million middle-class households have a combined purchasing power exceeding ₹100 lakh crore ($1.2 trillion). They represent 600 million digitally-native and increasingly brand-conscious consumers who seek premium experiences at affordable prices.

Third: For the first time in India’s history, rural markets, consisting of 900 million consumers, are driving 65% of the FMCG growth. They are adopting global-quality branded products faster than urban markets, with penetration growing at 35% annually. This combination of a rising middle class and accelerating rural adoption marks an unmissable consumption opportunity.

Fourth: RCPL is not just observing this transformation, we are shaping it by becoming a manufacturing company to deliver global-quality products at Indian prices

Reliance AGM 2025 LIVE: Our confidence in achieving 20%+ CAGR is grounded in eight growth enablers, each with measurable proof of performance, says Isha Ambani. They are as follows:

1. We know the Indian consumer better than anyone. Our unmatched insights are drawn from scientific data mining from billions of real transactions.

2. Our product development engine is creating powerful own brands such as Independence in Grocery, Avaasa in Fashion, and Kelvinator in Electronics.

3. Our superior sourcing ecosystem is a strategic advantage.

4. Our omni-channel architecture integrates the best of digital and physical retail, maximising customer delight.

5. Our unsurpassed market reach of nearly 20,000 stores is supported by India’s largest tech-enabled supply chain.

6. We empower India’s 42 lakh merchants – kiranas, traders, and HoReCa businesses – through our B2B formats Metro and JioMart Digital, giving them access to products, technology, and financing.

7. Our tech-led capabilities – from AI-driven demand forecasting to robotics-enabled warehouses – allow us to scale with precision and efficiency, ensuring profitability even in aggressive growth phases.

8.Our people – 2.5 lakh strong – are the soul of Reliance Retail. They are trained, empowered, motivated, and mandated to deliver.

We processed around 1.4 billion transactions in the year – nearly matching the population of India – a scale that only reinforces our ability to grow profitablity, says Isha Ambani.

Our unmatched digital strength is another accelerator of our retail business. Our online channels currently contribute a high single-digit share of retail revenues but will grow to over 20% within three years, says Isha Ambani.

“This year, we added 2,659 new stores, taking our total to 19,340 stores, covering 77 million square feet in over 7,000 towns. Stores remain the backbone of our retail revenues, contributing around 70%, and will continue to grow through high single-digit like-for-like gains, plus a steady expansion of 2,000–3,000 new stores annually. In many locations, we have been the first modern trade retailer to enter, securing a first-mover advantage and locking in consumer loyalty,” says Isha Ambani.

“Reliance Consumer Products had an outstanding growth in its very first year of operations. It has achieved a turnover of ₹11,500 crore ($1.4 billion), making it the fastest-growing FMCG company ever,” says Mukesh Ambani.

“A decade ago, digital services became a new growth engine for Reliance. Now, the opportunity before us with AI is just as large, if not larger. Jio promised and delivered digital everywhere and for every Indian. Similarly, Reliance Intelligence promises to deliver AI everywhere for every Indian. With Reliance Intelligence and our strong partnerships, green infrastructure, and India-first governance, we are building for the next decade with confidence and ambition. I am excited about what we will achieve,” says Mukesh Ambani.

‘Today, I am also pleased to unveil a new, India-focused AI joint venture with our close partner, Meta. Together, we want to pair the power of open-source AI with Reliance’s deep domain knowledge across industries. That is why, we are forming a dedicated joint venture with Meta to combine open models and tools with our execution in Energy, Retail, Telecom, Media, and Manufacturing, and to deliver sovereign, enterprise-ready AI for India,” says Mukesh Ambani.

“Today, I am delighted to announce a deeper, holistic partnership for AI with our long-standing partner, Google. Through this partnership, we are marrying Reliance’s proven capability to build world-class assets and execute at India’s scale with Google’s leading cloud and AI technologies, so that developers, start-ups, and enterprises can innovate faster, operate more securely, and reach every corner of India, ” says Mukesh Ambani.

1. Reliance Intelligence will build gigawatt-scale, AI-ready data centres, powered by green energy and engineered for training and inference at national scale.

2. Reliance Intelligence will bring the world’s best tech-companies and open-source communities together.

3. Reliance Intelligence will deliver trusted, easy-to-use AI services for consumers, small businesses, and enterprises, and solutions for sectors of national importance.

4. Reliance Intelligence will create a home for world-class researchers, engineers, designers, and product builders, so that ideas become innovations and applications, providing solutions to India and the world.

Mukesh Ambani announces new wholly-owned subsidiary – Reliance Intelligence at the 48th AGM.

Reliance AGM 2025 LIVE: For the first time, on the JioHotstar App, you will be able to enjoy sports and entertainment in your favourite Indian language, without losing the magic of the original performance, says Akash Ambani.

With the power of AI voice cloning and lip-sync technology, your favourite stars will not just get dubbed —they will speak in your language, in their own voice, with perfect lip-sync on screen, he adds.

“So, whether it is a cricket match or a blockbuster movie, you can now watch it in your own language, in the most natural and authentic way.”

“Finding what to watch in a world of thousands of hours of content can feel overwhelming. That is why, we have built RIYA– your new voice-enabled search assistant that makes discovering content effortless. RIYA is built for the way you think and speak. Just say what you want, across years, seasons, and episodes, and RIYA will curate it for you. No more scrolling. No more searching. Just ask, and RIYA delivers,” says Akash Ambani.

“JioFrames is an AI-powered wearable platform and ecosystem, made for India. With support for multiple Indian languages at launch, you can simply speak to Jio’s multilingual AI voice-assistant. It is a hands-free, AI-powered companion designed for the way India lives, works, and plays. With JioFrames, you can capture your world like never before. Take HD photos, record videos or go live – every memory is instantly stored in Jio AI Cloud,” says Akash Ambani.

Today, we unveil the next generation of Jio AI Cloud that is more than just storage, but an AI-powered memory companion. Imagine being able to find and relive your most precious moments simply by speaking in your own language. Jio AI Cloud also makes everyday organisation effortless. And with our new AI Create Hub, anyone can turn simple photos into shareable reels, collages, or promo videos with no expert skills required: Kiran Thomas, CEO, Jio Platforms Limited

“As we look ahead, Jio’s journey will progress beyond India. Our innovative technologies are now ready to be deployed globally and solve global challenges. With strategic partnerships and a clear roadmap, we will take Jio’s services international, creating value for partners and shareholders alike. Behind every achievement of Jio is a mission – to serve customers with heart, to connect the unconnected, and to uplift every citizen. As we move forward, Jio remains committed to ensuring that our technology empowers all of you,” says Akash Ambani.

“From Gen-AI enabled customer journeys to AI-powered diagnostics and automation, Jio is laying the foundation for India to become the world’s first AI-native digital economy. Building on this foundation, Jio True 5G has redefined speed, reliability, and reach of digital connectivity. Today, more than 220 million users are benefitting from the Jio True 5G network,” says Akash Ambani

Jio’s plans for the future are even more ambitious. They rest on five assurances:

One: Jio will connect every Indian on mobile and home broadband.

Two: Jio will equip every Indian home with digital services such as Jio Smart Home, JioTV+, Jio TV OS, and seamless automation.

Three: Jio will digitise every Indian business and enterprise with simple, scalable, and secure platforms.

Four: Jio will herald the AI revolution in India. Our motto is AI Everywhere for Everyone.

Five: Jio will expand its operations outside India, taking our home-grown technology to people around the world.

I am extremely confident that the path ahead for Jio is even brighter than its journey so far: Mukesh Ambani

Today, we are proud to announce another leap forward – JioPC. JioPC is that revolutionary product that transforms your TV, or any other screen, into a full-feature, AI‑ready computer, says Akash Ambani.

“You can easily get started by connecting a keyboard into your Jio Set-Top Box. Instantly, you get a virtual computer powered from Jio’s cloud with no upfront investment. You simply pay for what you use. And because JioPC lives in the cloud, it is always up-to-date, secure and you can remotely upgrade your memory, storage, and computing power based on your growing needs,” Akash Ambani added.

Jio AirFiber is now the largest fixed wireless provider in the world, adding over 1 million homes per month, says Akash Ambani.

Mukesh Ambani says we are aiming to list Jio by the first half of 2026.

• Jio made voice calls free from anywhere to everywhere in India
• Jio made it a habit for common Indians to watch videos on their mobilephones
• Laid the foundation of India’s public infrastructure
• Jio enabled the creation of the world’s 3rd largest startup ecosystem in India
• Rollout of 5G laid the foundation of AI in India

“Today, our conventional and non-conventional workforce has grown to nearly 6.8 lakh people. I see this growing to more than 10 lakh people over the next few years. It gives me immense satisfaction to say that we rank among the most admired employers and largest job creators in India,” says Mukesh Ambani at RIL AGM.

“I am also proud to report that Reliance’s CSR spending in FY-25 rose to ₹2,156 crore ($252 million). Our cumulative CSR expenditure over the last three years has crossed ₹5,000 crore ($585 million). This is a clear reflection of our unwavering commitment towards creating a meaningful societal impact,” says Mukesh Ambani.

In FY-25, Reliance delivered record consolidated revenue of ₹10,71,174 crore ($125.3 billion), becoming India’s first-ever company to cross $125 billion in annual revenues.

Reliance’s EBITDA stood at ₹1,83,422 crore ($21.5 billion), and net profit grew to ₹81,309 crore ($9.5 billion). Reliance’s exports were ₹2,83,719 crore ($33.2 billion), contributing 7.6% of India’s total merchandise exports.

The company invested a cumulative ₹5.6 lakh crore ($65.5 billion) over the last three years.

It remains the single largest contributor to the national exchequer, contributing ₹2,10,269 crore ($24.6 billion) in FY-25. Over the last six years, Reliance’s total contribution to the national exchequer has crossed ₹10 lakh crore ($117.0 billion).

“Jio will enter its 10th year next week. Today, I am proud to share with you Jio family has crossed 500 million customers. I offer heartfelt gratitude,” Mukesh Ambani.

Reliance AGM 2025 LIVE: Breakthroughs in AI are already boosting productivity, efficiency, and human potential to unimaginable levels, says Mukesh Ambani.

India can grow GDP at 10% annually, claims Mukesh Ambani. He believes India’s per capita income can grow 4-5x over two decades.

AI can now be called the Kamdhenu of our times. We are developing AI as new growth engine, besides embedding AI across all our businesses from retail to telecom, from energy to entertainment, says Mukesh Ambani.

We meet today on the most auspicious occasion of Ganesh Chaturthi. Let’s begin this meeting by seeking the blessings of Lord Ganesh: RIL Chairman and Managing Director Mukesh Ambani says.