Reliance Industries Chairman Mukesh Ambani told shareholders at the conglomerate’s 48th annual meeting that its telecom arm, Reliance Jio, will seek a listing on Indian exchanges in the first half of 2026, subject to regulatory approval. The flotation could rank among India’s largest public offerings. Jio, launched nine years ago, has crossed 500 million subscribers and delivered record revenue growth for the group. Bank of America Global Research last month valued the carrier at roughly $115 billion, implying that even a 5 percent stake sale could raise about $6 billion—surpassing Hyundai Motor India’s $3.3 billion debut in 2024. Ambani also announced the creation of Reliance Intelligence, a wholly owned subsidiary that will build gigawatt-scale, green-powered data centres and develop artificial-intelligence services for sectors such as education, healthcare and agriculture. Reliance said it is partnering with Google to set up a dedicated cloud region in Jamnagar and with Meta to make Llama open-source AI models available to Indian businesses. The diversified energy-to-retail group reported consolidated revenue exceeding $125 billion for the year ended March and said it contributed ₹2.1 trillion to India’s exchequer. Ambani added that Jio will continue expanding broadband coverage and exploring overseas markets while Reliance scales up investments in clean energy and digital platforms.