Reliance Industries Chairman Mukesh Ambani told shareholders at the conglomerate’s 48th annual general meeting on Friday that the group’s telecom arm, Reliance Jio Platforms, is "making all arrangements" to file for an initial public offering in India by the first half of 2026, subject to regulatory clearance. Jio, India’s largest wireless carrier with about 500 million subscribers, would stage one of the country’s most anticipated market debuts. The listing plans come as Reliance reported record results, becoming the first Indian company to cross $125 billion in annual revenue in the year ended March 2025. Investors, however, booked profits after the event; Reliance shares finished roughly 2.3 percent lower in Mumbai trading. Ambani also unveiled a wholly owned subsidiary, Reliance Intelligence, to spearhead the group’s artificial-intelligence ambitions. The unit will build gigawatt-scale, green-powered data centres and develop AI infrastructure and services "for everyone, everywhere," he said. To accelerate the effort, Reliance signed a pact with Google Cloud to establish a dedicated AI cloud region anchored by a new data-centre campus in Jamnagar, Gujarat, and entered a joint venture with Meta Platforms that will invest ₹8.55 billion (about $100 million) to commercialise Meta’s Llama open-source models for Indian enterprises. Ambani said the AI initiatives, together with the planned Jio listing, will underpin the group’s next phase of growth at home and overseas.