Reliance AGM 2026 highlights: Mukesh Ambani-led oil-to-telecom conglomerate, Reliance Industries (RIL), held its 49th Annual General Meeting (AGM) on 19 June. At the AGM, on expected lines, Ambani revealed that the DRHP for the proposed Jio IPO would be filed today, reiterated RIL’s focus on artificial intelligence (AI), and made several other key announcements.
RIL Chairman shares the company’s five value creation pathways: (i) O2C reinvented into oil-to-chemicals-and-new materials, (ii) New Energy in accelerated commissioning, (iii) Reliance Intelligence as AI for every Indian, (iv) FMCG grown into India’s largest FMCG company, and (v) an exports target of $125-150 billion by 2032.
AI is now an integral part of every vertical of Reliance. Reliance Intelligence aims to lead the AI business in India. It is building AI infrastructure at breakneck speed.
“Reliance Intelligence will make AI integral to the daily lives of every Indian and every Indian enterprise,” said RIL Chairman.
Here are some key announcements of RIL’s 49th AGM:
1. Jio to file DRHP with SEBI today
RIL Chairman Mukesh Ambani announced the board of Jio Platforms had approved its DRHP, and it will be filed with SEBI today, 19 June.
The board of Jio Platforms approved the Draft Red Herring Prospectus (DRHP) to be filed with the SEBI, BSE, and the NSE for its proposed IPO, comprising a fresh issue of 27 crore shares of face value of ₹10 each.
“This is a deeply emotional moment for me, for the entire Reliance Family, and millions of its shareholders. The relationship Reliance shares with its shareholders is a deep and sacred relationship founded on pride, trust, respect, and shared growth,” said RIL Chairman.
“The proposed listing of Jio will demonstrate to the world that India can build technology companies of global scale, global capability, and global value. I assure you, and all prospective new investors, that a brighter future awaits Jio,” said Ambani.
2. Jio sets eyes on satellite communications
Akash Ambani, Chairman of Reliance Jio Infocomm Limited (RJIL), announced that Jio is evaluating the development of a sovereign Low Earth Orbit satellite constellation for India to facilitate connectivity to remote villages, island communities, and the country’s border outposts.
“Jio is evaluating the development of a sovereign Low Earth Orbit satellite constellation for India. We are also partnering with the leading global constellation providers by leasing satellite capacity, so that we can accelerate service availability while building our own long-term sovereign capability,” said Jio Chairman.
“To anchor this ambition, Jio is also building its own ground station infrastructure in India. These ground stations will support our partner constellations, as well as our own future satellites, creating an end-to-end satellite broadband ecosystem from space to ground.”
3. Reliance Intelligence building India’s sovereign AI backbone in Jamnagar
At the AGM, Akash Ambani announced Reliance Intelligence is building India’s sovereign AI backbone in Jamnagar, which will be powered entirely by clean energy from Reliance’s own solar generation from the Kutch renewable platform. The first 120 megawatts will be commissioned by the end of 2026.
Additionally, the company is operationalising an initial fleet of advanced NVIDIA GB300 GPUs.
“This next-generation compute capacity is equivalent to more than 75,000 H100 GPUs on an AI-inference basis. As the first 120 megawatts becomes fully operational, this capacity can scale to over two lakh H100-equivalent GPUs. This capacity places Reliance among the largest AI infrastructure platforms being built anywhere in the world. When computing becomes affordable, innovation becomes inevitable,” said Jio Chairman.
Moreover, Reliance Intelligence is building multilingual AI services, designed to be accessible in 22 Indian languages to make AI a companion for every Indian.
4. Reliance Retail crosses 20,000 stores in Q4FY26
Reliance Retail crossed 20,000 stores in Q4FY26, which, as per the company, is a scale no retailer in Asia has achieved in so short a time.
Moreover, JioMart has become one of India’s largest quick commerce networks, with 3,100+ stores, serving 1,200+ cities across 5,100+ pin codes.
Mukesh Ambani said the ambition of Reliance Retail for the next decade is not simply to be the world’s largest retailer, but to be the world’s most intelligent, most humane, and most inclusive consumer ecosystem.
5. O2C business to achieve carbon-neutral operations by 2050
RIL Chairman said the O2C (oil-to-chemicals) business is on the path to achieve carbon-neutral operations at least two decades before India’s 2070 target.
“In the long run, we will convert all the oil we refine into chemicals and new materials. Our ambition is to make Reliance the world’s leading integrated energy and materials company for the age of sustainability and intelligence,” said RIL Chairman.
Reliance has signed a $3 billion long-term supply agreement with Samsung C&T for green ammonia.
6. New Energy updates
Anant Ambani said from FY27 onward, the New Energy will begin contributing meaningfully to Reliance’s financial performance.
The Dhirubhai Ambani Green Energy Giga Complex at Jamnagar, spread over 5,000 acres, is now one of the world’s most integrated clean energy manufacturing ecosystems.
Reliance has committed to scaling its BESS and Cell Giga Factory to 120 GWh of annual capacity. This will make Reliance one of the world’s largest manufacturers of lithium iron phosphate batteries, said Anant Ambani.
The Kutch renewable energy hub across 5,50,000 acres will generate over 40 billion units of green electricity every year – approximately 3% of India’s annual electricity requirement, Anant Ambani said.
Disclaimer: This story is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
About The Author
