Reliance AGM 2025: Key Announcements On Jio IPO, AI, Retail, and New Energy

The 48th Annual General Meeting (AGM) of Reliance Industries Limited (RIL), held on August 29, 2025, was more than a shareholder meeting. Chairman Mukesh Ambani, joined by his children Isha, Akash, and Anant, along with global partners like Google, Meta, and Disney, laid out a comprehensive strategy built on deep-tech transformation, consumer growth, and clean energy leadership.

The session covered Reliance’s plans in artificial intelligence (AI), retail, energy, and social impact. However in today’s session Reliance share price fell over 2%. 

Jio IPO: The Big Announcement

The headline moment of the Reliance AGM was Mukesh Ambani’s confirmation that Jio will be listed by the first half of 2026, subject to approvals. He described the JIO IPO as a milestone that will not only unlock value for shareholders but also place Jio alongside the world’s most valuable digital service providers.

For investors, this announcement was one of the most anticipated highlights. Jio has consistently delivered strong financial performance, with FY25 revenues of ₹1,28,218 crore and EBITDA of ₹64,170 crore, reflecting its profitability and growth trajectory. The IPO is expected to attract significant global and domestic investor interest, given the scale of Jio’s operations and its central role in India’s digital transformation.

Ambani highlighted Jio’s operational strength. The telecom arm has now crossed 500 million customers, making it not only India’s largest operator but one of the biggest globally.

AI-led Future, New Subsidiary

The next phase, Ambani explained, is built around artificial intelligence (AI) with the vision of “AI Everywhere for Everyone.” To accelerate this, Reliance announced Reliance Intelligence, a new subsidiary dedicated to building AI-ready data centres, offering user-friendly AI services, and creating a hub for world-class AI talent in India.

New innovations unveiled at the AGM included:

• Jio AI Cloud: An AI-powered “memory companion,” already with over 40 million users.
• JioPC: Converting any TV into a full-feature AI-ready personal computer via the cloud.
• Jio Frames: Hands-free AI-enabled wearables supporting multiple Indian languages.
• Digital Twin System: A proprietary model that enables broadband rollouts in under 24 hours.

Global partnerships with Google (Jamnagar Cloud Region) and Meta (AI joint venture using Llama open-source models) will further strengthen Jio’s AI ambitions, while investments in human-centric robotics aim to make India a leader in AI-driven robotics.

Media & Entertainment: Building a Global-Scale Platform

The newly formed JioStar venture and the JioHotstar app are already reshaping India’s streaming industry. With 300 million paid subscribers, JioHotstar is now the world’s second-largest streaming platform. Disney CEO Bob Iger acknowledged the partnership as one of Disney’s most important globally.

JioStar also showcased AI-driven features like:

• RIYA - a voice-enabled search assistant.
• Voice Print - AI-based dubbing across languages.
• JioLenZ - customizable viewing experiences.
• MaxView 3.0- an enhanced cricket-viewing feature.

Reliance’s media footprint goes beyond entertainment: Network18’s Moneycontrol now has over one million paid subscribers, while Firstpost recorded 400 million video views, making it the most-viewed English news channel from India on YouTube.

Retail and Consumer Products: Scaling Ambitions

• Reliance Retail continues to expand aggressively. In FY25, revenue grew 8% to ₹3,30,943 crore, while EBITDA rose 8.6% to ₹25,094 crore. The business added 2,659 new stores, bringing its network to nearly 19,340 outlets across 7,000 towns.
• Mukesh Ambani set a target of delivering 20%+ CAGR in retail revenues over the next three years, with online channels projected to account for over 20% of revenue. The customer base now stands at 349 million, with 1.4 billion transactions processed in FY25.
• On the consumer products front, Reliance Consumer Products Limited (RCPL) will now operate as a direct subsidiary. In just its first year, RCPL achieved ₹11,500 crore in turnover, making it the fastest-growing FMCG company in India.
• The ambition is global: RCPL plans to enter 25 new countries within a year and reach ₹1 lakh crore in revenue in five years, aiming to become India’s largest consumer products player with a worldwide presence.

Energy: From Oil to Clean Energy

Reliance’s traditional energy businesses remain strong, but the company is now clearly pivoting to clean energy as the future. Let’s discuss the company's existing segment first:

• E&P (Exploration & Production): Contributed nearly 30% of India’s natural gas output, delivering record EBITDA of ₹21,188 crore.
• Oil-to-Chemicals (O2C): Revenues grew 11% to ₹6,26,921 crore with EBITDA of ₹54,988 crore. Investments worth ₹75,000 crore are underway in PVC, PTA, and other specialty projects.
• Jio-bp: Expanded its retail fuel network and EV charging infrastructure, positioning itself as a key player in India’s mobility shift.

New Energy: The Biggest Bet Yet

Anant Ambani presented Reliance’s vision for New Energy, calling it a mission to make India self-reliant and a global leader in clean fuels.

• Dhirubhai Ambani Giga Energy Complex: Under construction in Jamnagar, it will be the world’s largest integrated clean energy complex.
• Solar PV Manufacturing: Scaling to 20 GWp capacity at a single site, making it one of the largest globally.
• Battery Giga Factory: Launching in 2026 with 40 GWh/year capacity, expanding to 100 GWh/year.
• Electrolyser Giga Factory: To be operational by 2026, enabling cost-competitive green hydrogen.
• Kutch Solar Project: Spread across 5,50,000 acres, designed to meet nearly 10% of India’s electricity needs.
• Bioenergy: 55 compressed biogas plants under development, scaling to 500+ by 2030.

The company aims to achieve 3 MMTPA green hydrogen production capacity by 2032, making clean energy a business as large as O2C within 5–7 years.

Looking Ahead: Doubling Value

Mukesh Ambani closed the AGM by reiterating his target to more than double Reliance’s EBITDA by 2027, compared to about ₹1.25 lakh crore in 2022.

He also emphasized the role of the next generation, Isha, Akash, and Anant Ambani, in shaping Reliance’s future, supported by institutional strengthening and recognition from global analysts. In fact, Gartner recently listed Reliance alongside Microsoft, Amazon, Google, and Meta as a “new superpower” of the global economy.

Conclusion

The 2025 AGM made one thing clear: Reliance is no longer just an energy and telecom giant. It is repositioning itself as a deep-tech, clean-energy, and consumer-driven conglomerate with ambitions that stretch well beyond India.

From Jio’s AI-driven future to RCPL’s FMCG expansion and the massive bets on green hydrogen, Reliance is aligning its businesses with the trends that will shape the global economy in the next decade.

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