Winning Bizness Desk

Mumbai.Reliance Industries Chairman Mukesh Ambani has unveiled an ambitious growth roadmap for the conglomerate, announcing that Jio Platforms has formally moved ahead with plans for its much-awaited initial public offering while also outlining major investments in technology, education, conservation and digital infrastructure. Addressing nearly 44 lakh shareholders at the company’s 49th Annual General Meeting on June 19, Ambani said Reliance is preparing to enter markets across Europe and Africa, while Jio’s proposed public issue could emerge as the largest IPO in India’s corporate history.

Jio files IPO papers with Sebi

Ambani informed shareholders that Jio Platforms has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI). The company plans to issue 27 crore fresh shares and aims to raise nearly $4 billion, or about Rs 37,700 crore, through the offering.

The proposed issue is expected to surpass all previous public offerings in the country. While the price band has not yet been disclosed, Ambani said the IPO process has formally begun. The listing was originally expected after last year’s AGM but was postponed due to the conflict and uncertainty in West Asia.

Five major announcements from Reliance AGM

Reliance outlined several strategic initiatives that are expected to shape its future growth:

• Jio Platforms board has approved the IPO proposal and filing process.
• The company aims to migrate all customers to 5G services by 2030.
• Jio is developing artificial intelligence tools in Indian languages.
• AirFiber and broadband services will be expanded to more households.
• Jio’s 5G, AI and digital technologies will be exported to international markets.

The company also confirmed that work on next-generation 6G technologies is underway.

University and conservation projects take shape

Beyond telecom and technology, Reliance Foundation announced major social infrastructure initiatives. A large urban green sanctuary project called “Coastal Garden” will be developed in Mumbai. The Maharashtra government has also approved a world-class university project spread across nearly 410 acres in the city.

Another significant announcement was the launch of Vantara University, which will focus on wildlife conservation, veterinary sciences and specialised animal healthcare education. The institution is expected to become a centre for advanced learning and research in wildlife management and animal treatment.

Akash Ambani outlines digital growth plans

Reliance Jio Chairman Akash Ambani said the company is working towards developing a satellite internet ecosystem for India through partnerships with global satellite operators. He also announced the launch of the Jio Teleframe platform designed for AI agents and advanced digital applications.

Key operational highlights shared by Akash included:

• Jio’s subscriber base has crossed 52.4 crore users.
• More than 1.3 crore homes are connected through Jio AirFiber.
• Jio Homes is preparing broadband services offering up to 5 Gbps download speed.
• Satellite connectivity is being explored as the next growth frontier.

Retail business continues strong momentum

Reliance Retail Director Isha Ambani highlighted the rapid expansion of the retail business. She said the company’s registered customer base has reached 38.7 crore. During FY26, Reliance Retail recorded 1.93 billion transactions, representing a 39% increase compared with the previous year.

She noted that Smart Bazaar has crossed the milestone of 1,000 stores. The home and personal care segment is growing at five times the industry average. Revenue for FY26 increased 11.8% year-on-year to Rs 3.70 lakh crore, underlining continued consumer demand and network expansion.

Middle East tensions have limited impact

Executive Director Anant Ambani said the ongoing geopolitical tensions in West Asia had little impact on Reliance’s energy operations. He stated that the company’s refinery network continued to operate at near-full capacity due to diversified sourcing strategies and a resilient logistics framework.

He added that when LNG supplies faced disruptions, Reliance ensured that domestic gas supplies reached priority sectors. The company is also continuing to evaluate fresh opportunities in oil and gas exploration and production.

Why Jio Platforms listing matters globally

Mukesh Ambani described the upcoming listing as more than a fundraising exercise, saying it would demonstrate India’s ability to create technology companies with global scale, capability and valuation. Headquartered in Mumbai, Jio Platforms already operates India’s largest mobile network and provides advanced 5G solutions and digital technologies to telecom operators worldwide.

The company possesses a complete suite of 5G software, network services and AI-driven platforms that simplify deployment for enterprises and private networks. Its cloud-enabled technology stack is increasingly being positioned for international expansion.

Important IPO highlights include:

• Proposed issue size: 27 crore fresh shares.
• Expected fundraising: Around Rs 37,700 crore.
• Possible IPO launch: November-December, subject to SEBI approval.
• Large portion of proceeds may be used for debt repayment.
• Reliance Industries holds over 66% stake in Jio Platforms.
• Other investors include Google, Meta, KKR, Silver Lake and General Atlantic.
• Google owns about 7.7%, while Meta holds nearly 10%.

If approved on schedule, the Jio Platforms IPO could become a landmark event for India’s capital markets and one of the most closely watched technology listings globally.