All eyes on Reliance Jio IPO: Mukesh Ambani announce update in RIL AGM? Check date

Reliance Jio IPO: The forthcoming annual general meeting (AGM) of Reliance Industries Ltd (RIL) is set to be a crucial one for investors as Mukesh Ambani, the chairman and Managing Director of oil, telecom and retail major is expected to provide an update on the proposed initial public offering (IPO) of Jio Platforms. RIL is set to host its AGM on June 19, Friday, said the company. 

The meeting will be held through video conferencing and other audio-visual means at 2 pm, according to an exchange filing with the bourses, with June 12 fixed as the cut-off date for determining shareholders eligible to vote on the resolutions.

Jio, India’s largest telecom operator by market share, has been preparing for a large public issue that could raise as much as $4 billion. The planned listing has been under discussion for some time, and the company is understood to be revisiting its structure amid differences over how the issue should be priced and brought to market, suggest an ET Now report.

The earlier plan had been to launch the listing through an offer for sale (OFS). In March, the proposal was that each of Jio’s 14 equity investors would pare 8-8.5 per cent of their holdings, resulting in nearly 2.8 per cent equity dilution. Under that structure, none of the shareholders would have made a complete exit. The structure is now being reworked towards a fully fresh issue, it said.

The shift reflects a gap between the expectations of existing shareholders and the company’s approach to pricing. Shareholders are understood to favour a higher price band, while Reliance is said to be wary of pricing the issue too aggressively if that leaves little room for gains after listing and exposes retail investors to the risk of losses on debut.

The differing positions have also raised concerns about the size of the issue. A higher-priced offer could become harder for the market to absorb, while a fresh issue would allow the stock’s value to be determined after listing. It would also ensure that the company, rather than selling shareholders, receives the proceeds from the public offer, reported the channel citing sources.

Under the fresh issue route, around Rs 25,000 crore could be used to repay debt, while the remaining funds could be deployed for other requirements, depending on the company’s needs. The debate over structure and pricing has become a central part of the discussions around Jio’s listing as Reliance balances fundraising with investor expectations and market reception,” added ET Now’s report.

Reliance’s latest annual report for financial year 2026 said Jio had strengthened its position in India’s digital ecosystem while crossing several operational milestones. The company said the business delivered strong performance driven by rising 5G adoption, improved average revenue per user and stronger traction in broadband services.

Jio’s operating revenue rose 13 per cent year-on-year to Rs 44,928 crore in the fourth quarter of FY26, supported by subscriber additions, improving ARPU and continued momentum in digital services. Quarterly profit increased 13 per cent on a yearly (YoY) basis to Rs 7,935 crore, while Ebitda rose 18 per cent YoY, helped by revenue growth and a 230 basis point improvement in margins.

ARPU stood at Rs 214, aided by stronger engagement and a better subscriber mix, though partly affected by fewer days in the quarter. Data consumption remained strong, with per capita usage at 42.3 GB a month and overall data traffic up about 35 per cent year-on-year. The 49th AGM post listing is now expected to bring greater clarity on Jio’s IPO roadmap.