Reliance Industries is scheduled to hold its 48th Annual General Meeting (AGM) on Friday, August 29, 2025, at 2 pm. The meeting will be held virtually, with over 44 lakh shareholders expected to tune in. Anticipation is particularly high around whether Chairman Mukesh Ambani will finally provide clarity on the long-awaited Reliance Jio IPO.
Market awaits Ambani’s next move on IPO
Back in the 2019 AGM, Ambani told shareholders that the company would look to list its telecom and retail arms within five years. Since then, there has been no concrete update. A Reuters exclusive in November 2024 reported that the Jio IPO was expected to launch in 2025, while the retail unit’s IPO was projected to come much later.
However, another Reuters piece on July 9, 2025, cast doubt on the likelihood of a 2025 IPO, citing delays as RIL focuses on strengthening its telecom subscriber base and improving digital offerings. The report also noted that no bankers have been appointed yet.
Dividend decision to be announced at AGM
Reliance Industries has earlier fixed August 14, 2025, as the record date to determine shareholders eligible for dividend for the financial year 2024-25. The dividend, if declared at the upcoming AGM on August 29, will be paid within a week from the conclusion of the meeting
Analysts eye expansion strategy at AGM
A roadmap for doubling Jio and Retail business verticals in the next three to four years, along with a game plan for the New Energy (NE) business aimed at replicating earnings from the oil-to-chemicals (O2C) segment, is also being eyed, analysts said. At the 2024 AGM, Mukesh Ambani-led RIL had guided for a twofold growth in overall business by 2030, with Jio and Retail expected to double within three to four years.
Announcement on demerger of RCPL from Reliance Retail
In its Q1 FY26 results, Reliance Industries said it plans to separate Reliance Consumer Products (RCPL) from Reliance Retail Ventures (RRVL). This move is meant to create a focused company that will manage all of Reliance’s consumer brands.
RCPL is one of India’s fastest-growing FMCG (Fast-Moving Consumer Goods) companies. In FY25, it earned Rs 11,500 crore, doubling its revenue compared to the previous year. In Q1 FY26 alone, its revenue was Rs 4,400 crore, also showing double growth from last year. RCPL plans to become one of India’s biggest FMCG companies by 2030. It has strong manufacturing and supply chains and is expanding its network across the country. Most of its sales—over 70 per cent—come from general trade.
RIL Q1FY26: Profit surge 78%
Reliance Industries reported a net profit of Rs 26,994 crore in Q1FY26, up 78% year-on-year, mainly boosted by a one-time gain from the sale of a stake in Asian Paints. Jio crossed the 200 million 5G subscribers mark and delivered double-digit EBITDA growth with industry-leading margins.