Reliance Industries shares: Stock slips nearly 2% after Jio update, other announcements; details here

Reliance Industries (RIL) shares declined 1.6% to touch an intraday low of ₹1,306.1 apiece as the Mukesh Ambani-led conglomerate announced various updates in their 49th Annual General Meeting (AGM) on Friday, June 19.

After opening at ₹1,328 per share, RIL shares rose nearly 1% to its day’s high of ₹1,338.20 apiece, but they slipped during the AGM meet.

For a month’s time, shares of RIL have lost over 1%, while they have fallen 16% in the past six months. From the beginning of the year, Reliance Industries shares have tumbled 17%.

Shares of the company had touched their one-year high of ₹1,611.80 apiece on January 5, 2026, while their 52-week low of ₹1,253.20 was hit on June 11, 2026.

Here are some updates from AGM

Jio IPO

Putting all speculation to rest, Mukesh Ambani on Friday announced a key update on the much-awaited initial public offering (IPO) of Jio Platforms during his address at the AGM.

Ambani said that the draft red herring prospectus (DRHP) for the IPO has been approved by the board and will be filed with the Securities and Exchange Board of India (SEBI) later today.

The proposed initial public offering (IPO) of Jio Platforms will comprise a fresh issue of up to 27,00,00,000 (twenty-seven crore) equity shares with a face value of ₹10 each. The issue price will be determined through the book-building process, in accordance with the applicable regulations of the Securities and Exchange Board of India (SEBI).

Reliance Jio's user base crosses 524 million

Reliance Jio's subscriber base crossed 524 million in FY26, while its profit after tax surpassed ₹30,000 crore for the first time, Reliance Jio Infocomm chairman Akash Ambani said.

Addressing shareholders, Ambani said Jio's 5G subscriber base has crossed 268 million, making it the largest single-country 5G operator outside China. He further said the telecom operator added 77 million 5G subscribers during the year.

The total data traffic on Jio's network stood at 241 exabytes in FY26, registering a 30.8% year-on-year growth and placing the company among the largest data operators globally.

Satellite broadband system

Jio Platforms announced its plans to enter the satellite broadband system as the company looks forward to developing its own low-orbit satellite, in an effort to provide network connectivity even in remote locations in India.

In the AGM, Chairman and MD Akash Ambani announced that the company is planning to develop a ‘sovereign low-earth orbit satellite’ made in India, which aims to deliver better connectivity to customers.

“Jio is evaluating the development of a sovereign low-earth orbit satellite constellation for India,” said Akash Ambani during his shareholders' address in the Reliance AGM.

Reliance Intelligence

Mukesh Ambani informed shareholders that Reliance Intelligence, which was announced last year has entered its execution phase. "Our objective is to build a profitable AI infrastructure, platform, and services business serving consumers, enterprises, and governments at scale," Ambani said.

As part of the execution phase of AI at scale Reliance Industries has partnered with Google, Meta, and NVIDIA, Ambani said. He added that Reliance Intelligence is building India’s sovereign AI backbone in Jamnagar.

Reliance Industries has a total market capitalisation of ₹17.71 lakh crore, according to NSE data.