Informist, Friday, Aug. 29, 2025

MUMBAI – Reliance Industries Ltd. is planning to list its telecommunications business under Reliance Jio Infocomm Ltd. in the first half of 2026. "I assure you that this will demonstrate that Jio is capable of creating the same quantum of value as our global counterparts," RIL Chairman and Managing Director Mukesh Ambani said at the company's 48th annual general meeting Friday.

However, the stock market did not seem pleased with the initial public offering announcement, as Reliance Industries' shares fell sharply following the announcement. The stock hit a four-month low of INR 1,350 on the National Stock Exchange Friday before closing 2.1% lower at INR 1,357.20. The volume of the stock traded on the exchange Friday was 42% higher than the previous day at almost 19 million.

Ambani said Reliance Jio's innovative technology is now ready to be developed globally and that its operations will be expanded outside India. He also said the company laid the foundation of India's artificial intelligence revolution with the rollout of its fifth-generation mobile network technology.

For the quarter ended June, Reliance Jio had reported a net profit of INR 67.11 billion on revenue of INR 308.82 billion. Its operating margin had expanded by 90 basis points sequentially during the quarter to 28.9%.

Jio serves more than 500 million customers, which is more than the combined population of the US, the UK, and France, Akash Ambani, chairman of Reliance Jio Infocomm, said. "Very few companies in the world have the privilege of serving half a billion people. Fewer still do it with the consistency, commitment, and care that Jio has demonstrated," he said. Jio is the only operator that can activate gigabit speed internet in under 24 hours across India, he added. He said more than 40 million Indians have Jio AI Cloud, which offers up to 100 GB of free cloud storage, used to securely back up files, photographs, and videos.

The company also announced the launch of JioPC, which can transform a television or any other screen into a full-featured and artificial intelligence-ready computer. "We are partnering with leading providers to bring a rich library of out-of-the-box, market-leading applications and powerful AI tools to boost your productivity and creativity," Akash Ambani said.

Akash Ambani also announced the company's upcoming product, JioFrames, an AI-powered wearable. "With support for multiple Indian languages at launch, you can simply speak to Jio's multilingual AI voice-assistant." It can also be used to make calls, attend meetings, listen to music, or enjoy podcasts, he said. Speaking about its entertainment platform, Akash Ambani said JioHotstar is now the world's second-largest streaming platform, with 300 million subscribers.

Amidst the ongoing uncertainty about US tariffs and concerns about their potential impact on India's economic growth, the Mumbai-based oil-to-chemicals giant believes the Indian economy can grow at 10% annually "with the right set of reforms, advanced manufacturing capabilities, and a national priority on deep tech." The Reserve Bank of India has projected the Indian economy to grow 6.5% in 2025-26 (Apr-Mar).

RIL's chairman said that the global economy is navigating an era of uncertainty and that he expects world leaders to prioritise cooperation over conflict, dialogue over discord, and win-win agreements over zero-sum rivalries. Mukesh Ambani also said India's rise was unstoppable despite geopolitical uncertainty and that RIL continues to be one of the largest job creators in India. End

Reported by Anjana Therese Antony

Edited by Saji George Titus

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.