Ambani anoints next gen at Jio-Retail engine driving half of Reliance EBITDA
At Reliance's 49th AGM, Mukesh Ambani cleared Jio Platforms' DRHP and tapped Akash, Isha and Anant to lead the IPO-bound unit. Jio (524M subs, 268M 5G) and Retail (20 years old) now contribute ~50% of group EBITDA, anchoring a ₹6.48 lakh crore five-year capex plan.
What happened
Reliance Industries · At Reliance's 49th AGM, Mukesh Ambani approved Jio Platforms' DRHP for IPO and named Akash, Isha and Anant Ambani to lead it. Reliance
Key facts
- 27 crore equity shares fresh issue
- FY26 capex ₹1,44,271 crore ($15.2B)
- 5-yr cumulative capex ₹6,48,428 crore ($68B)
- Taxes ₹2,16,472 crore
- 524M Jio subscribers
- 268M 5G users
- Jio PAT >₹30,000 crore
- 13M AirFiber homes
- Jio + Retail ~50% of group EBITDA
Why this matters
Reliance's family-led split across Jio, Retail and new energy signals a pre-IPO carve-up where partnership, minority-stake and category JV windows open at the subsidiary level rather than the parent.