Mukesh Ambani announces Reliance Jio IPO for 2026, launches AI ‘Kamdhenu’ initiative

Mumbai: Reliance Industries Limited (RIL) Chairman and Managing Director Mukesh Ambani on Friday announced that telecom arm Reliance Jio will launch its initial public offering (IPO) in the first half of 2026, marking one of India’s most anticipated stock market debuts.

Addressing the 48th Annual General Meeting of RIL, Ambani said, “Today, it is my proud privilege to announce that Jio is making all arrangements to file its IPO. We are aiming to list Jio by the first half of 2026, subject to all necessary approvals. This will demonstrate that Jio is capable of creating the same quantum of value as our global counterparts.”

Ambani highlighted that Jio has now surpassed 500 million subscribers, just ahead of completing 10 years of operations. “These years have been the most glorious in India’s digital history,” he said, noting the unwavering trust and support of the Jio family.

Jio plans to expand its revenue, digital offerings, and overseas operations before going public. Ambani outlined five key priorities for the next phase:

As part of its AI push, Reliance announced a wholly-owned subsidiary, Reliance Intelligence, which will build gigawatt-scale, AI-ready green energy-powered data centres in Jamnagar. The subsidiary will house India’s next-generation AI infrastructure, foster global partnerships, and deliver affordable AI services across education, healthcare, and agriculture. “Reliance Intelligence promises to deliver AI everywhere for every Indian,” Ambani said.

Ambani praised Jio’s role in India’s technological transformation, from making voice calls free and popularising mobile video streaming and digital payments to building the country’s Digital Public Infrastructure like Aadhaar, UPI, and Jan Dhan.

Jio’s financial performance reflects this growth: in FY25, revenue reached Rs 1,28,218 crore ($15 billion), a 17% YoY increase, while EBITDA stood at Rs 64,170 crore ($7.5 billion). “These figures testify to the enormous value Jio has already created, and the even greater value it is destined to generate,” Ambani said.

On the media front, Akash M. Ambani highlighted JioHotstar’s rapid growth, emerging as the world’s second-largest streaming platform with 300 million paying subscribers and over 600 million users, including 75 million connected TVs, within three months of launch. The platform now offers over 3.2 lakh hours of content, six times more than its closest rivals.

“With a 34% television market share and ambitions to reach a billion screens, JioStar is redefining India’s media ecosystem by combining content, AI, and technology,” Akash Ambani said.

With inputs from IANS