From Jio IPO, Reliance Intelligence to investment of ₹75,000 crore in new projects, check 10 key takeaways from RIL's 48th AGM

Reliance Industries (RIL) chairman and managing director Mukesh Ambani on Friday, August 29, said that the oil-to-telecom conglomerate is making all arrangements to file for share sale of Reliance Jio via initial public offering (IPO) by the first half of 2026.

"We are aiming to list Jio by the first half of 2026, subject to all necessary approvals," Ambani said at the company's 48th annual general meeting (AGM).

Here are 10 key takeaways from Reliance Industries' 48th Annual General Meeting

Jio IPO

Ambani on Friday announced the timeline of the most awaited Jio IPO. Ambani said that Reliance is aiming to list Jio by the first half of next year.

"I assure you that this will demonstrate that Jio is capable of creating the same quantum of value as our global counterparts. I am sure that it will be a very attractive opportunity for all investors," Ambani said.

Formation of Reliance Intelligence

“Reliance Intelligence will build gigawatt-scale, AI-ready data centres powered by green energy and engineered for training and inference at a national scale. Work has already begun on the gigawatt-scale AI-ready data centres in Jamnagar,” Ambani said.

The company also unveiled deep partnerships with Google and Meta to accelerate AI adoption across India.

Jio Frames: AI-powered smart glasses

Announcing the product at the company’s 48th annual general meeting (AGM), Akash Ambani, Chairman of Reliance Jio Infocomm Limited, said the device would serve as a “hands-free AI-powered companion designed for the way India lives, works, and plays.”

The smart glasses will support multiple Indian languages at launch and feature Jio’s multilingual AI voice assistant. “With Jio Frames 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,” Ambani said.

The device will allow users to make calls, take meetings, listen to music or podcasts, and even get step-by-step instructions while cooking, through built-in open-ear speakers.

The company also said the frames can summarise books, explain concepts, and provide instant information about landmarks during travel.

Net carbon zero by 2035

Reliance Industries AGM 2025 Live Updates: Addressing shareholders, Anant Ambani said, "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."

"Across facilities, we are shifting to clean fuels. Our efficiency programmes have delivered 10 million gigajoules of energy savings in three years. Our circular economy initiatives – waste plastic pyrolysis, biomass fuels, hydrogen – make Reliance a leader in sustainable materials. This is a strong competitive advantage as sustainability drives value creation," he added.

RIL, Meta JV

Ambani announced a joint venture with social media major Meta with an initial investment of around ₹855 crore, or $100 million, to build and scale artificial intelligence technology solutions for business organisations.

RIL also announced a partnership with Google for AI for setting up AI-ready data centres that will use computing power from Google, while energy support will come from RIL and connectivity will be provided by Reliance Jio.

Commenting on the partnership with Meta, RIL Chairman and Managing Director Mukesh Ambani said the joint venture pairs the power of open-source AI with Reliance's deep domain knowledge across industries.

Reliance Retail expects 20% growth in next 3 years

Reliance Retail is confident of growing at a compound annual growth rate (CAGR) of 20% over the next three years, aided by structural growth tailwinds across its verticals.

Reliance Retail, which is expanding its online sales and amplifying its quick-commerce reach, expects 20% of its revenue to come from these channels, Reliance Industries Director Isha Ambani said while addressing the Reliance Industries AGM on Friday.

Reliance Consumer Products demerger

Isha Ambani at the AGM said that Reliance Consumer Products will be demerged into a separate entity.

The demerger of Reliance Consumer Products Ltd (RCPL), which handles the fast-moving consumer goods (FMCG) business of the retail division, into a separate company under Reliance Industries would unlock new potentials, she said.

On RCPL, the RIL Chairman said, "RCPL had outstanding growth in just the first year of operations. It has achieved a turnover of Rs 11,500 crore, making it the fastest-growing FMCG company ever."

RIL FY25 financials

Commenting on Reliance Industries' performance in FY2025, Ambani said the conglomerate 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. Your company invested cumulatively ₹5.6 lakh crore ($65.5 billion) over the last three years, and it remains the single largest contributor to the national exchequer, contributing ₹2,10,269 crore," Ambani said.

RIL's transformation from Fortune 1,000 to Fortune 40

Ambani on Friday said that in just one generation, Reliance has transformed itself from a Fortune 500 company to a Fortune 40 global powerhouse, creating more than $200 billion in value – all within India.

RIL's ₹75,000 crore investment plan

Anant Ambani, the head of the new energy business, said that the company will invest ₹75,000 crore in new projects.

The new project includes a 1.2 million tonne PVC plant in Nagothane, expanded CPVC and a 3 million tonne PTA facility in Dahej and a 1 million-tonne speciality polyester facility at Palghar.