Reliance Industries Seeks Shareholder Approval for Major Jio Transactions

Reliance Industries is looking to gain shareholder approval for transactions exceeding Rs 16.64 lakh crore over five fiscal years, involving Jio Platforms and Reliance Jio Infocomm. Significant dealings include Rs 13 lakh crore for services from Reliance Jio to Reliance Retail, aimed at enhancing telecom services.

Reliance Industries is preparing to seek approval from its shareholders for internal transactions exceeding Rs 16.64 lakh crore. These transactions are set to span over the next five fiscal years and involve key digital subsidiaries Jio Platforms and Reliance Jio Infocomm, according to a notice delivered ahead of the 49th Annual General Meeting.

The shareholders' meeting is scheduled for June 19, 2026. A significant portion of the transactions, amounting to over Rs 13 lakh crore, involves Reliance Jio's delivery of telecom services to Reliance Retail. The forecast for key financial years estimates extensive monetary figures, demonstrating a calculated strategy for the roll-out and expansion of telecom services such as Jio Fibre within Reliance Retail's extensive network.

These enduring financial arrangements received prior approval in the 45th and 46th Annual General Meetings held post-IPO in 2022 and 2023. As the company plans to sustain this strategic partnership, it now seeks shareholders' agreement to extend these arrangements until the fiscal year 2031-32.