Overview

• Mukesh Ambani said Jio is preparing to file IPO draft papers with a target to list in the first half of 2026.
• Jio reported FY25 revenue of ₹1.28 lakh crore and EBITDA of ₹64,170 crore, with a customer base exceeding 500 million.
• Reliance will form a new AI subsidiary called Reliance Intelligence, with planned partnerships with Google and Meta.
• The New Energy platform targets an operational launch within four to six quarters, spanning green hydrogen, electrolyzers, batteries, and solar materials, with costs to be lowered via captive green power.
• Brokerages set near-term RIL price targets around ₹1,650–₹1,750 and flagged holding-company discounts, while outsized IPO size figures circulating are estimates rather than official guidance.