Jio IPO to Launch by June 2026: Mukesh Ambani Calls AI the ‘Kamdhenu Cow of Our Generation’ at Reliance’s 48th AGM
Mumbai, August 2025: At the 48th Annual General Meeting (AGM) of Reliance Industries Limited (RIL) Chairman Mukesh Ambani made one of the most anticipated announcements for Indian markets Jio’s Initial Public Offering (IPO) will be launched by June 2026. Ambani described the listing as a step that would unlock significant value for shareholders, both in India and globally.
“Jio has been a game-changer for India’s digital revolution. Its IPO will mark the next big milestone not only for Reliance but also for India’s capital markets,” Ambani said, highlighting the company’s rapid growth and strong financials.
From Free Data to India’s Largest Telecom Player
Reliance Jio Infocomm Ltd was launched in 2016, disrupting the Indian telecom sector with free data and calling services. The move reshaped India’s digital economy and forced incumbents like Airtel and Vodafone to re-strategize.
Since then, Jio has emerged as India’s largest mobile network operator and the world’s third-largest telecom company, with a strong footprint across 22 telecom circles. Starting with 4G, the company rolled out 5G services by late 2022, and is already working on 6G technologies.
Jio’s Strong Financial Performance
In the first quarter of FY2025-26 (Q1FY26), Jio posted impressive numbers:
Net profit rose 25% year-on-year to ₹7,110 crore, up from ₹5,698 crore in Q1FY25.
Revenue grew 18.8% to ₹41,054 crore, compared to ₹34,548 crore a year earlier.
Average Revenue Per User (ARPU) increased 15% to ₹208.8, up from ₹181.7 in the same period last year.
This consistent growth underscores Jio’s strong position in the telecom and digital services market, boosting investor confidence ahead of its IPO.
Ambani: “AI is the Kamdhenu Cow of Our Generation”
In a speech that captured global attention, Mukesh Ambani described Artificial Intelligence (AI) as the modern-day Kamdhenu cow—a mythical symbol of prosperity in Indian tradition.
“AI will be the growth engine of this century. At Reliance, we are integrating AI across our businesses energy, retail, telecom, and entertainment to create value and drive transformation,” Ambani said.
He added that despite rising global uncertainties, the world is entering a “golden era of abundance” driven by technology, clean energy, genomics, and deep-tech innovations.
Key Highlights from Mukesh Ambani’s Address
India has the potential to grow its GDP at 10% annually, with per capita income rising 4-5 times in the next two decades.
Reliance Industries reported FY25 revenue of ₹10.71 lakh crore, EBITDA of ₹1.83 lakh crore, and net profit of ₹81,309 crore.
Reliance contributed ₹2.10 lakh crore to the government exchequer during FY25.
The company’s workforce stands at 6.8 lakh employees, expected to rise to over 1 million in the coming years.
Reliance: India’s Largest Private Sector Enterprise
Today, Reliance is India’s largest private sector corporation, with diversified operations in:
Hydrocarbons (exploration, refining, and marketing)
Petrochemicals and advanced materials
Renewable energy
Digital services through Jio
Retail and consumer businesses
Ambani emphasized that Jio’s IPO is not just a corporate milestone but a national milestone, reflecting India’s journey towards becoming a global technology and economic powerhouse.
The Road Ahead
The announcement of Jio’s IPO is expected to energize India’s stock markets, attracting both domestic and global investors. With Jio’s strong performance in 4G and 5G, its push into 6G, and diversification into digital platforms, the IPO is likely to become one of the largest public offerings in India’s history.
Ambani’s symbolic reference to AI as a “Kamdhenu cow” also highlights Reliance’s strategic pivot towards next-generation technologies, ensuring it remains at the forefront of innovation in telecom, digital services, energy, and retail.
As the countdown begins for June 2026, all eyes are on Reliance and Jio India’s digital juggernaut set to take the capital markets by storm.
