Reliance Industries' share price falls 2%; 48th AGM underway; check key announcements

Shares of Reliance Industries fell over 2% on 2:45 pm amid ongoing AGM.The AGM’s highlight was around the Jio IPO, which the chairman said is expected in the first half of 2026. Among other key announcements, Reliance AGM Jio IPO announcement was one of most widely tracked and on expected lines. However, investor sentiment remains pessimistic as they expected a public issue of telecom majors in 2025.

The shares of Reliance have given steady performance with 14% returns in 2025 on a YTD basis after correcting from the recent 52-week high levels of ₹1,544 apiece on the NSE.

Key announcements from Reliance AGM

Reliance Industries Chairman and Managing Director Mukesh Ambani on Friday, August 29, said that Reliance Industries is making all arrangements to file for its share sale via initial public offering (IPO) by first half of 2026.

Mukesh Ambani, on Friday, August 29, announced partnership for artificial intelligence with Google and Meta.

The company announced a new subsidiary company focused on Reliance Intelligence will build gigawatt-scale, AI-ready data centres, powered by green energy and engineered for training and inference at national scale.

The new company will bring the world’s best tech-companies and open-source communities together. It will also deliver trusted, easy-to-use AI services for consumers, small businesses, and enterprises, and solutions for sectors of national importance.

Isha Ambani on Friday announced that the consumer Products business, RCPL, is set to become a direct subsidiary of RIL.

Commenting on the consumer products business potential, Isha Ambani said, "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. 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.

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.