What Mukesh Ambani said as Jio IPO becomes Reliance's 'most important milestone' of 2026

At Reliance Industries' 49th AGM, Mukesh Ambani announced that the Jio IPO will be the conglomerate's most important milestone of 2026, with a fresh issue of up to 27 crore shares. Akash Ambani, Isha Ambani Piramal, and Anant Ambani will lead the IPO process, which is expected to become India's largest-ever public offering, potentially surpassing NSE's around Rs 30,000 crore and Hyundai Motor India's Rs 27,870 crore IPOs. Jio's user base has crossed 524 million, with 268 million 5G users, and the company is also evaluating a sovereign Low Earth Orbit satellite constellation for India.