Jio IPO likely in first half of 2026: Mukesh Ambani at Reliance AGM

RIL AGM 2025: During the Reliance Industries Annual General Meeting (AGM) on August 29, 2025, Chairman Mukesh Ambani revealed that the company plans to list Jio in the first half of 2026. He also mentioned that Jio is preparing for its Initial Public Offering (IPO), which will present a notable opportunity for investors.

"Jio is making all arrangements to file for its IPO. We are aiming to list Jio by the first-half of 2026, subject to all necessary approvals. 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," said Mukesh Ambani.

On Friday, Ambani presented five key priorities for Jio's next growth stage, stating that the company aims to connect all Indians through mobile and home broadband, provide digital services to households, digitize businesses using secure platforms, promote an "AI Everywhere for Everyone" initiative, and expand its operations internationally.

According to reports, Jio share sale would represent Reliance's initial public offering of a significant business unit since Reliance Petroleum Ltd. launched in 2006. Among the international tech giants that have invested more than $20 billion into Reliance's telecom enterprise are Meta Platforms Inc. and Alphabet Inc.'s Google.

Ambani stated that Jio has exceeded the 500 million subscriber milestone. Earlier this year, Jio Platforms Ltd. revealed a collaboration with SpaceX to provide Starlink Inc.’s satellite Internet services in India.

This partnership indicated India’s willingness to permit market entry for American companies, although the relationship between New Delhi and Washington has faced challenges due to President Donald Trump’s aggressive 50% tariffs on Indian exports related to its acquisition of Russian oil.

In the first quarter of FY26 (concluding in June 2025), Jio Platforms achieved a net profit of ₹7,110 crore, marking a 25% increase compared to the previous year, fueled by a 19% growth in revenue, totaling ₹41,054 crore. Significant contributors to this growth were the addition of new subscribers, an increase in Average Revenue Per User (ARPU) to ₹208.8, and strong results in both 5G and home broadband services, with the 5G user base surpassing 200 million and home connections exceeding 20 million.

5 significant milestones of Jio

Additionally, Mukesh Ambani pointed out that Jio has achieved five significant milestones that were once thought impossible:

• First, Jio eliminated charges for voice calls across India.

• Second, Jio encouraged ordinary Indians to regularly watch videos on their mobile devices and conduct digital transactions via smartphones.

• Third, Jio established the groundwork for India’s Digital Public Infrastructure, including Aadhaar, UPI, Jan Dhan, and Direct Bank Transfer, fostering a confident new generation.

• Fourth, Jio facilitated the development of the world's third-largest startup ecosystem in India, featuring over 100 unicorns.

• Fifth, Jio's rapid nationwide 5G deployment, the fastest globally, has set the stage for the artificial intelligence revolution in India.

Reliance Industries share price

Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments said that RIL stock continued in the pattern of drifting down on the AGM day during the last 4 years. Today was no different with the stock declining by a whopping ₹40 from the peak. It appears that the selling is more technical than driven by fundamentals or disappointments on the expectations front.

“The big appointments relating to clean energy, AI, FMCG business, international aspirations and global collaborations are all positive. Also, the announcement of Jio listing in H1 2026 is positive since it will help in value unlocking. Mukesh Ambani's declaration of targeting to double EBITDA by 2027 is a strong bullish signal. Investors should ignore the temporary volatility in the stock price and focus on the long-term potential which appears very bright,” said Vijayakumar.

According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Reliance Industries share price post AGM have seen volatile moves, and now trading with a cut around 2%, for now the trend remains in a consolidation phase, where any dip towards ₹1,320 coinciding with 200dsma is likely to act as strong buying zone.

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