New Delhi, June 22 -- Within a decade of Reliance Industries Ltd. Chief Mukesh Ambani's statement that "data is the new oil", Jio Platforms Ltd., the company's telecom-led business incubated for a digital future, is set for a public issue with a heady agenda.

It plans to place satellites in orbit for satcom services even as, in an echo of Reliance's oil and petrochem success, it seeks to span a large part of the AI ecosystem, starting with data centres. Under Reliance Intelligence, it proposes to lead the diffusion of AI applications across India.

Marquee names like Meta, Google and KKR will stay invested in Jio Platforms; like Reliance, which owns two-thirds of this subsidiary, their stake will shrink rather little, since only a sub-3%...