Mukesh Ambani,Reliance Industries Chairman and Managing Director
Recently the company had announced 50:50 joint venture with Allianz Group for setting up an Indian reinsurance company. It had also signed agreement with Allianz to explore life and general insurance in India.
NEW DELHI: Reliance Jio will launch its initial public offering in the first half of 2026, Reliance Industries Chairman and Managing Director Mukesh Ambani said on Friday.
Recently the company had announced 50:50 joint venture with Allianz Group for setting up an Indian reinsurance company. It had also signed agreement with Allianz to explore life and general insurance in India.
The company already has an insurance broking company.
Addressing the 48th Annual General Meeting of RIL, Ambani announced that Jio will now expand its operations overseas and develop its own artificial intelligence technology.
“…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…this will demonstrate that Jio is capable of creating the same quantum of value as our global counterparts,” he said.
Jio aimed to expand its revenue, subscriber base and digital offerings for a higher valuation before an initial public offering, Reuters has reported exclusively in July.
Ambani outlined five priorities for Jio’s next phase of growth, saying the company would connect every Indian through mobile and home broadband, equip households with digital services, digitise businesses with secure platforms, drive an “AI Everywhere for Everyone” push, and expand operations overseas.
Analysts said Reliance Jio IPO, at around Rs 52,200 crore, could be the largest ever IPO in the country.
Till now Hyundai India ’s public issue of Rs 26,000 crore is the largest .
Meanwhile, Reliance Industries has partnered with Google to bring “world-class AI” in the country and reach every corner of India, announced Ambani.
The partnership will help Reliance’s businesses transform through the use of AI in energy, retail, telecom, and financial services.
Reliance will work with Google Cloud to establish a state-of-the-art, AI-focused cloud region dedicated to Reliance in Jamnagar. Google Cloud will bring world-class, latest-generation AI compute expertise, while Reliance will design, build, and power state-of-the-art cloud facilities.
“Through this partnership, we are marrying Reliance’s proven capability to build world-class assets and execute at an India scale with Google’s leading cloud and AI technologies so that developers, startups, and enterprises can innovate faster, operate more securely, and reach every corner of India,” Ambani told the shareholders.
Sundar Pichai, CEO of Google and Alphabet, speaking virtually, said they have long been investing in India’s digital future.
“Our partnership with Reliance and Jio has been an important part of how we do them. Our work together over the last decade has helped bring affordable Internet access to millions, helping to power India’s digital revolution,” Pichai said.
“Now we are building on this to help shape the next leap with AI. The AI opportunity in India is advanced. It will transform every industry and organisation, from the largest enterprises to the smallest Kirana Store.”
To support the AI adoption together, they are establishing a Jamnagar cloud region built for and dedicated to Reliance, Pichai said.
“It will bring world-class AI and compute from Google Cloud, powered by clean energy from Reliance and connected by Jio’s advanced network.”
“As Reliance’s largest public cloud partner, Google Cloud is not only powering the company’s mission-critical workloads, we are innovating with you on advanced AI initiatives 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,” Pichai asserted.