Newsletter
India's largest company used its annual shareholder event to unveil plans spanning everything from the much-awaited Jio IPO and satellite internet to AI, manufacturing and green energy.
Here's the cheat sheet 👇
- Reliance officially filed draft papers for the much-awaited Jio IPO
- Jio announced plans to launch satellite internet services, putting it in direct competition with global players like Elon Musk's Starlink.
- Reliance doubled down on artificial intelligence by expanding Reliance Intelligence, partnering with Google, Meta and Nvidia.
- Reliance Retail unveiled plans to build its own manufacturing ecosystem for products ranging from food and clothing to smartphones and smart devices.
- The company's first battery gigafactory is expected to begin operations in 2026.
- Reliance said earnings from its Oil-to-Chemicals business could improve as geopolitical tensions ease and energy markets stabilize.
- The company also signalled continued focus on reducing debt, improving returns for shareholders and strengthening its consumer businesses.
More details: the biggest announcement of the day was of course around Jio. The IPO will include a fresh issue of up to 27 crore shares.
Jio now wants to deliver internet directly from satellites.
At the moment, global players like Elon Musk's Starlink dominate this space. Jio plans to partner with international satellite providers while also building its own satellite capabilities over time.
The company is already creating ground infrastructure in India to support these services.
What this means: people living in remote villages, mountains and areas with weak network coverage could eventually get high-speed internet through satellites.
AI ambitions: the company is doubling down on its AI business through a platform called Reliance Intelligence. To make this happen, Reliance is working with global tech giants like Google, Meta and Nvidia.
The big goal is to build India's own AI ecosystem instead of relying entirely on technology developed overseas.
Self-reliance:Reliance Retail wants to make more things itself
The company announced plans to build manufacturing platforms across categories like beverages, daily essentials, clothing and consumer electronics. That includes products like smart glasses, TVs, smartphones and wearable devices.
Reliance has already built partnerships across 21 manufacturing clusters around the country.
Green energy plans: the company said the first phase of its battery cell gigafactory will be operational in 2026.
Reliance also expects its New Energy business to start contributing financially from 2027.
Oil business still matters: Mukesh Ambani said earnings from the Oil-to-Chemicals business could improve once geopolitical tensions ease and energy markets stabilise.
