Mumbai: Reliance’s highly anticipated AGM on Friday, August 29 offered deep insights into the ambitions of India’s richest and most influential businessman- Mr. Mukesh Ambani. Known for his penchant for sensing opportunities and implementing disruptive solutions, Mr Ambani made several announcements that reiterated his ambitions to expand Reliance’s (and the Jio brand’s) reach deeper into India’s economy. These were the standout announcements:
Succession Plans
At the AGM, Mr Ambani explained how his three children are actively involved in the everyday operations of the company.
“Under the mentorship of senior leaders and independent directors, they are becoming the kind of leaders this era demands – agile, accountable, ambitious, empathetic, and consultative.” he explained.
His eldest son Akash, 33 has been assigned to look after the company’s telecommunications, digital businesses and most importantly, its forthcoming bets on AI. Akash’s twin sister Isha is leading the company’s retail and FMCG divisions while his younger son Anant, is working in the company’s oldest and most profitable business- its oil to chemicals and new energy businesses.
Jio’s IPO in 2026
Confirming speculations about Reliance Jio’s IPO plans, Mr Ambani said “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.”
Though he did not disclose the shares on offer in his speech, market watchers expect a 10% share sales. Currently, RIL owns about 66% in Reliance Jio Infocomm, which counts Meta (10%), Google (7.7%) and PE investors like Mubadala, Intel Capital, Qualcomm and the Public Investment Fund of Saudi Arabia as other investors holding the remaining 16% stakes.
Reliance Intelligence – partnerships with Meta, Google
Another major highlight was Reliance’s partnerships with Meta and Google, where both Google CEO Sundar Pichai and Meta’s founder, Mark Zuckerberg, made announcements during the AGM via video conferencing.
“Jio promised and delivered digital everywhere and for every Indian. Similarly, Reliance Intelligence promises to deliver AI everywhere for every Indian. The opportunity before us with AI is just as large, if not larger,” Mr Ambani said.
”Meta and Reliance are going to deliver our open-source AI models to Indian businesses to help them fuel their work,” Mark Zuckerberg said.
“With Llama, we have seen how AI can amplify human potential, boosting productivity, inspiring creativity, and accelerating innovation. And now, with Reliance’s reach and scale, we can bring this to every corner of India.”
“Our work together over the last decade has helped bring affordable internet access to millions, helping to power India’s digital revolution. And now we are building on this to help shape the next leap with AI. The AI opportunity in India is extraordinary.” Sundar Pichai added.
“Google and Reliance are partnering to help all of Reliance’s businesses transform, using AI – from Energy and Retail to Telecom and Financial Services. To support this AI adoption, together we are establishing a Jamnagar Cloud region, built for and dedicated to Reliance. It will bring world-class AI and compute from Google Cloud, powered by clean energy from Reliance, and connected by Jio’s advanced network. And with Reliance and the Jio ecosystem, we are excited to put AI into the hands of more people and businesses so they can do extraordinary things, as well,” he added.
Rs.1 trillion- FMCG target
Reliance Retail is targeting to achieve Rs.1 trillion in revenue from its packaged consumer products business within 5 years, challenging sector leaders like Hindustan Unilever (HUL) and ITC Ltd, Isha Ambani, executive director Reliance Retail Ventures Ltd, said at the AGM.
“We are confident of delivering 20%+ CAGR in retail revenues over the next three years”, Isha said. ”It is anchored in the fact that every engine of our growth – offline, online, and B2B – is already proven, profitable at scale, and primed for acceleration,” she added.
The company has grown by leaps and bounds in recent years through acquisitions like Campa Cola, Nuturedge Beverages in FMCG and the Kelvinator brand in home appliances.
Reliance has been fairly successful in breaking the Coke-Pepsi duopoly and aims to continue the same through acquisitions and its 19,000+ Reliance retail stores across the country.
New Energy
The company is also venturing into clean, renewable energy through the upcoming Dhirubhai Ambani Giga Energy Complex in Jamnagar which aims to offer green ammonia, sustainable methanol and aviation fuel. Besides this, the company is also setting up a an electrolyser giga factory to offer cost-effective green hydrogen production.
Besides this, the company is developing the world’s largest solar project in arid land in Kutch with a solar energy project on 5,50,000 acres- three times the size of Singapore.
“This single site could meet nearly 10% of India’s electricity needs within the next decade,” Mr Ambani explained.
Reliance Industries Limited, 48th Annual General Meeting (Post-IPO) now in Metaverse. Click the link below for a truly immersive experience 👇https://t.co/xANHY1pWGL #RILAGM #RealisingAspirations pic.twitter.com/z38mjfon4E
— Reliance Industries Limited (@RIL_Updates) August 29, 2025
Dividend announcement- Rs.5.50 per share
The AGM also approved a Rs.5.50 per Rs.10 share dividend announced by the company earlier. This has cemented RIL’s reputation as a desirable dividend stock to hold, given its regular dividends over the years with its high 0.41 dividend yield.
The company reported its highest-ever quarterly profit at Rs.26,994 crore in Q1FY26, a 78% rise from the same quarter last year. The share has delivered a 13% return over the past six months, despite shares being down 2% following the AGM.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Readers should conduct their own research or consult with a qualified financial advisor before making any investment decisions.
