Early Diwali for Network18 employees as Anant Ambani releases variable pay

MUMBAI: Diwali came early at Network18. Almost 5,000 employees have received a large chunk of their performance-linked incentive in the middle of the year, just before the festival. Anant Ambani, executive director, announced the celebratory release of variable pay in a message to staff, timed to the day Jio Platforms listed in what he called the largest IPO India has ever seen.

Network18 staff add a second piece of good news. Their salary for October was credited on October 15, instead of at the end of the month.

The message

Ambani’s letter opens with the listing. “Today marks another historic milestone in the remarkable journey of Reliance,” he wrote. The listing of Jio Platforms, he said, has made history as the largest IPO India has ever seen, and it is a moment of immense pride for every member of the Reliance family. The letter carries a heading that says “Jio aapne banaya”, Hindi for “you built Jio”.

He credits the people. Behind every record the company creates is the spirit of its people, he wrote, who have time and again led from the front and turned bold dreams into reality. They have set new benchmarks and then surpassed them, across every area of the businesses. Today’s achievement, he said, belongs to each one of them.

The money

The payout is the news. As Reliance steps into its 50th year, Ambani said, a celebratory release of variable pay will be credited to employees today. The final payout will be made on completion of the performance year 2026-27, in line with the applicable guidelines.

That wording matters. This is a part-payment ahead of schedule, with the final settlement still to come at the end of the performance year. For employees, it means cash in hand before Diwali. For the company, it ties the reward to a milestone it is proud of.

Ambani calls it a heartfelt expression of gratitude. Reliance is what it is today, he wrote, because of the hard work, commitment and belief of its people in a shared purpose. “You are not just a part of Reliance. You are Reliance.”

The listing in context

The IPO that prompted the gesture is a big one. Reuters had reported that Jio Platforms was set to surpass Hyundai Motor India’s 2024 listing, the previous record, to become India’s biggest. For a group in its 50th year, it is a landmark, and the decision to share the moment with staff in cash is a notable one.

Ambani also looks ahead. He and his siblings Isha and Akash look forward to walking alongside employees as the group grows to even greater heights in the years ahead. They aim to take the dreams and vision of their grandfather, under the chairman, to iconic levels that will do them proud.

The festival

The letter ends with Diwali wishes. “As we celebrate the festival of lights,” Ambani wrote, he prays that the festival fills every home with joy, good health and prosperity, with his warmest wishes to employees, their families and loved ones for a happy and safe Diwali. It is signed “Jai Shri Krishna”, with warm regards and gratitude.

For Network18 staff, the festival has started a little early.