Reliance Jio's next phase of growth will be driven by five strategic commitments spanning 5G, broadband, artificial intelligence and global expansion, chairman Akash Ambani said at Reliance Industries' 49th Annual General meeting (AGM).

RIL chairman and managing director Mukesh Ambani announced the company will file draft IPO papers with Sebi on 19 June.

Analysts estimate that the Jio IPO can be the biggest public offer till date at a valuation of $130-180 billion.

"My dear shareholders, with great delight, let me tell you that the board of Jio Platforms has approved the draft red herring prospectus earlier today and it will be filed with Sebi today," Mukesh Ambani said.

He said the IPO process is being led by his children - Akash, Isha and Anant - who will spearhead the next phase of growth and value creation at Jio.

RIL holds 66.43 per cent of paid-up equity share capital of Jio Platforms Limited (JPL). Meta and Google hold 17.71 per cent out of the balance 33.57 per cent.

Akash Ambani said Jio's journey over the past decade has laid the foundation for a new phase focused on taking India's digital capabilities to the next level.

"The next chapter of Jio's growth will be powered by five commitments," he said.

Five strategic priorities for Jio's next phase of expansion were outlined in the meeting. Here is a list of the commitments:

Satellite Communications

Jio is now looking to step up its game in connectivity from the skies with indigenous communications satellites, Akash Ambani said on Friday.

At present, the satellite communications segment is dominated by foreign companies like Elon Musk-led Starlink and French service provider Eutelsat.

"Jio connected India on the ground. Now, we must connect India from the skies. There are still remotest villages, island communities, and border outposts where the Jio network cannot reach. For them, satellite connectivity will be the bridge to the rest of India. Jio is evaluating the development of a sovereign low earth orbit satellite constellation for India," Akash Ambani said.

"We are also partnering with the leading global constellation providers by leasing satellite capacity, so that we can accelerate service availability while building our own long-term sovereign capability. This dual approach will enable Jio to meet India's connectivity needs faster, while laying the foundation for the Indian satellite broadband platform of global scale," he added.

Reliance to build India's sovereign AI backbone in Jamnagar

Artificial intelligence will play a central role in Jio's next chapter.

Akash Ambani listed "Ensure AI for everyone, everywhere" as one of the company's key commitments, echoing father Mukesh Ambani's vision of making India a global leader in AI.

Akash Ambani said the company is building India's sovereign AI backbone in Jamnagar, powered entirely by renewable energy. The first phase, comprising 120 megawatts of AI compute capacity, is expected to be commissioned by the end of 2026.

Reliance is also deploying advanced NVIDIA GB300 GPUs and has expanded strategic partnerships with Google and Meta to accelerate AI adoption across India.

He said that Jio aims to make AI accessible, affordable and useful for every Indian while creating new revenue streams through premium services, enterprise solutions and AI-powered products.

Doubles down on 5G

The company plans to accelerate the adoption of its JioTrue5G network, targeting migration of its entire subscriber base to 5G by 2030, while advancing India's role in the development of 6G standards.

Jio also aims to expand high-speed broadband access through JioAirFiber, its fixed wireless access service.

Digitise enterprises and small businesses

The company will continue its efforts to digitise small and medium-sized businesses through products such as JioPC, a cloud computing service delivered via a set-top box, and expand the use of artificial intelligence across consumer services, network operations and customer support.

"I assure you, and all prospective new investors, that a brighter future awaits Jio," Akash Ambani said.

Jio True 5G network

Jio to make standalone True 5G network the backbone of India's digital infrastructure. "Our target is to migrate all subscribers to 5G by 2030 while advancing India's leadership position in 6G standards," Akash Ambani said. Jio has crossed 268 million 5G users, the largest single-country 5G network outside China. The company added 77 million 5G subscribers in FY26.