The AGM will be held through video conferencing and other audio visual means at 2 pm on June 19, the company said in an exchange filing on Wednesday. The company has fixed June 12 as the cut-off date for determining shareholders eligible to vote on AGM resolutions.
What we know about Reliance Jio IPO so far
India’s largest telecom operator by market share, has been preparing for a mega initial public offering (IPO) which could fetch as much as $4 billion, as per reports. Earlier in May, The Economic Times reported citing people familiar with the matter that RIL is reworking the listing structure of Jio from the previously planned offer for sale (OFS) to a fully fresh issue due to differences with existing investors over pricing.Shareholders want to price the IPO to perfection, by selling shares at a higher price band. However, RIL is of the view that this may hurt retail investors in case of a listing day loss, the sources cited by the report said. “There is an inherent conflict of interest, which is unique to Jio,” said one of the persons cited above, who added, “Shareholders want to price the issue as high as possible. But that creates two risks. First, the issue could become too large for markets to absorb.”
A second person familiar with the matter said the promoter’s stance has been consistent. “Mukesh Ambani’s priority from day one has been to protect retail investors. There must be room for upside in the stock price post listing. Therefore, Reliance now plans to let the market determine the price post listing and PE investors can later sell in the open market if they wish,” he said.
A fresh issue would ensure that the company receives the IPO proceeds. “About ₹25,000 crore could be utilised for debt payments, and rest of the funds could be used for other purposes, depending on the requirements,” another person said.
In March, the company had planned an offer for sale, where each of its 14 equity investors would cut 8-8.5% of their holdings, translating into a nearly 2.8% equity dilution, ET reported at the time. None of the shareholders would have made a full exit.
Also read: Businesses and investors of the IPO-bound firm
In its annual report for the financial year 2026 released on Thursday, Reliance Industries said that Jio solidified its leadership in the Indian digital ecosystem, crossing several operational milestones. “The business delivered strong performance led by increasing 5G adoption, higher ARPU and greater traction in broadband offerings,” it added.
Jio represents one of the most significant transformations in India’s corporate history-and its journey is still unfolding, according to RIL. “As Jio evolves into a global technology leader, we are taking deliberate steps to strengthen its institutional framework, enhance transparency, and prepare it for the opportunities ahead. We will continue to evaluate strategic pathways that can broaden stakeholder participation and support Jio’s long- term growth, always guided by the principle of sustainable value creation. Our vision is clear: to position Jio at the forefront of the global digital revolution-driving innovation across connectivity, artificial intelligence, cloud, and digital services. From connecting India to empowering India, Jio is now poised to help lead India into the digital future,” it said.
Reliance Jio Q4 earnings snapshot
Operating revenue for Reliance Jio rose 13% YoY to Rs 44,928 crore in Q4 FY26, driven by strong subscriber additions, improving ARPU and continued traction in digital services. Profit for the quarter increased 13% to Rs 7,935 crore.
EBITDA rose 18% YoY, supported by revenue expansion and margin improvement of 230 basis points, indicating better operating leverage across the business. Average revenue per user (ARPU) improved to Rs 214, aided by higher customer engagement and a better subscriber mix, though partially impacted by fewer days in the quarter. Data consumption remained robust, with per capita usage at 42.3 GB per month and overall data traffic rising about 35% YoY.
Also read: Mukesh Ambani’s $4 billion Jio IPO hits Iran war roadblock
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