Reliance Industries has scheduled its 49th Annual General Meeting for June 19, 2026, marking a significant milestone as the company's 50th AGM post-IPO. According to the latest announcement, the AGM will be conducted on a Friday through video conferencing and audio-visual means at 2 pm. The company has set June 5, 2026 as the record date for determining shareholders eligible to receive dividend for the financial year 2025-26, with dividend payments to be made within 7 days of the AGM if declared. As reported by The Economic Times, Mukesh Ambani is expected to provide an update on Jio Platforms' anticipated initial public offering at this meeting, with investors and market analysts anticipating more clarity around the upcoming IPO during the AGM.
According to reports from The Economic Times, Reliance Industries is reworking the listing structure of Jio Platforms from the previously planned offer for sale (OFS) to a fully fresh issue. This shift is attributed to differences with existing investors over pricing strategies. The company's promoter stance has remained consistent with protecting retail investors, as stated by sources familiar with the matter. A fresh issue would ensure the company receives IPO proceeds directly, with ₹25,000 crore potentially utilized for debt payments. Reports suggest the Jio IPO could become India's largest IPO, with the company aiming to raise nearly $4 billion in the massive public offering for Jio Platforms Limited.
The company delivered robust financial performance for FY 2025-26, with consolidated revenue of ₹11,75,919 crore representing 9.8% year-on-year growth. EBITDA reached ₹2,07,911 crore (up 13.4% Y-o-Y) and net profit stood at ₹95,754 crore (up 17.8% compared to the previous financial year). The company has proposed a dividend of ₹6 per equity share for FY 2025-26, aggregating ₹8,119 crore. As reported by The Economic Times, shareholders want to price the IPO at the highest possible price band, but RIL is concerned this may hurt retail investors in case of listing day losses. A source cited in the report noted there is an inherent conflict of interest unique to Jio, where shareholders seek maximum pricing while creating risks of the issue becoming too large for market absorption.
The AGM will address several key business initiatives, with the company seeking member approval for related party transactions exceeding ₹5,000 crore in a financial year. Major transactions include ₹1.65 lakh crore in petroleum products sales to Reliance BP Mobility Limited and ₹2.20 lakh crore in telecom services to Reliance Jio Infocomm Limited for FY 2027-28. Shareholders are also expected to approve the previously announced dividend of ₹6 per share for the last financial year. The AGM represents a significant opportunity for the company to provide comprehensive updates on its strategic initiatives and business performance across multiple segments, marking this as a major milestone in Reliance's corporate history.
Following recent attacks on Iran by the United States and Israel, Reliance Industries shares have faced pressure in the stock market. While the company's 52-week high stands at ₹1,611, the stock is currently trading around ₹1,350. On Wednesday, the stock ended lower by ₹7 on the BSE. Market experts believe that once the Jio IPO process is completed, Reliance Industries may also move ahead with an IPO for its retail business, though clarity on the timeline for that is expected only after the Jio IPO progresses further. The company's gross debt as of March 31, 2026 was ₹3,74,421 crore with net debt at ₹1,24,717 crore, while capital expenditure for FY 2025-26 stood at ₹1,44,271 crore.
