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Akash Ambani named managing director of Jio Platforms ahead of blockbuster IPO
Reliance’s digital giant readies for market debut as the eldest Ambani son steps up as managing director
MUMBAI: Jio Platforms is not wasting time. The digital arm of Reliance Industries has appointed Akash Ambani as managing director for five years, effective April 9, 2026 — a move that signals the company is getting its house in order ahead of one of India’s most eagerly awaited stock market listings.
The appointment, approved unanimously by Jio Platforms’ board on the same day, was confirmed through filings with the Ministry of Corporate Affairs. Akash Ambani, the eldest son of Reliance Industries chairman and managing director Mukesh Ambani, is no stranger to the business. He joined Reliance Jio Infocomm as a non-executive director in 2014, fresh from an economics degree at Brown University, and rose to become chairman of the telecom arm in June 2022. Mukesh Ambani continues to chair Jio Platforms, with siblings Isha and Anant also on the board. Kiran Thomas serves as chief executive.
The timing is deliberate. Jio Platforms is reworking its IPO structure, shifting away from a largely offer-for-sale model towards a fresh issue, as shareholders wrangle over valuation and pricing. Some investors are pushing for a higher price tag; Reliance is wary of overreaching and triggering a limp debut on the markets. Bankers have valued the company at between $200bn and $240bn, with a public issue of around $4bn — roughly Rs 36,100 crore — on the table, though nothing is finalised. The listing was given fresh impetus earlier this year when the finance ministry eased public shareholding norms for large IPOs.
The company has plenty to sell. Since storming into India’s telecom market in 2016 with free voice calls and dirt-cheap data, Jio upended the sector and turbocharged internet adoption across the country. It has since muscled into cloud infrastructure, artificial intelligence, enterprise services and digital applications. In 2023, Reliance tied up with Nvidia to build AI infrastructure and develop language models tailored for India. Global heavyweights have long been believers: in 2020, Jio Platforms raised more than $20.5bn from the likes of Meta, Google, KKR, Silver Lake and General Atlantic, at valuations between $57bn and $65bn. Reliance Industries holds a 66.43 per cent stake; Abu Dhabi Investment Authority, Meta, Google, KKR and Silver Lake are among the other investors.
The numbers back the hype. In the fourth quarter of FY26, Jio Platforms posted a net profit of Rs 7,935 crore, up 13 per cent year-on-year and 4 per cent sequentially. Operating revenue climbed 12.6 per cent year-on-year to Rs 38,259 crore.
With Akash Ambani now firmly in the managing director’s chair and the IPO machinery cranking into gear, Jio Platforms is positioning itself for a market debut that could reshape India’s investment landscape. The only question is whether the valuation ambitions and investor nerves can be squared — and quickly.
