Jio Platforms appoints Akash Ambani as managing director ahead of IPO

The meeting of the board of directors of Jio Platforms on appointing Ambani as the managing director was held on 9 April.

Akash is the eldest of the three children of Reliance Industries chairman and managing director Mukesh Ambani. He joined the leadership team at the group's telecom unit, Reliance Jio Infocomm Limited as non-Executive Director in 2014, soon after completing his graduation in economics from Brown University. Later in June 2022, Akash was appointed as chairman of Reliance Jio Infocomm Limited.

With his appointment to lead Jio Platforms, Akash also became the first among his siblings Isha Ambani and Anant Ambani to get the designation of managing director.

Separately, the company has appointed Zia Jaydev Mody, co-founder and managing partner of AZB & Partners as independent director of Jio Platforms for a period of five years, according to its MCA filings dated 21 April. With her appointment, Mody became the 10th board member at Jio Platforms, as per the company’s director details on the MCA.

The leadership revamp at Jio Platforms, ahead of the listing assumes significance as the same will provide greater clarity on the leadership at the company and will strengthen investor confidence.

Queries emailed to Jio late on Tuesday evening did not elicit any response at the time of publishing the story.

Jio Platforms houses Reliance Industries’ telecom and digital services business. Reliance Jio is India’s largest telecom operator by market share and accounts for most of Jio Platforms' business. As of March end, the company’s total subscriber base was at 524.4 million.

The company’s IPO is touted as India's biggest by a private company. Analysts at Morgan Stanley and Citi Research have pegged Jio Platforms’ valuation at around $133 billion, implying a 13-times multiple on its estimated 2026–27 enterprise value relative to its earnings before interest, taxes, depreciation and amortization (Ebitda).

“I am happy to note that we are advancing steadily towards the listing of Jio Platforms. This will mark a defining milestone in its journey as it continues to scale new heights and contribute to India’s digital future," Mukesh D. Ambani, chairman and managing director, Reliance Industries had said in the Q4 earnings statement on 24 April.

The groundwork for Jio's IPO started last year, when during Reliance Industries’ annual general meeting, chairman Mukesh Ambani said the company is making "all arrangements" to file for a public offer, targeting a listing in the first half of 2026.

For FY26, Jio Platforms reported 14.7% increase in revenue from operations to ₹1.72 trillion . Its net profit for the full year was at ₹30,053 crore, a growth of 15%. Ebitda for the full year rose 19% to ₹76,255 crore, which the company attributed to traction in mobility, home broadband and enterprise services.

“Momentum in Jio remains decent with FY26 EBITDA and EBITDA margins up 13.4% and up 0.6 percentage points respectively from FY25, which bodes well for this year's IPO. We stay fundamentally positive and are Buyers of RIL with a ₹1,700 price target,” said Chris Hoare, lead analyst at London-based New Street Research, in a note dated 24 April.

Jatin Grover

Jatin is based in New Delhi and writes on telecom and technology with a keen interest in policy and regulation. With over five years of reporting experience across Informist Media, Financial Express and now Mint, he has extensively covered the telecom, information technology, electronics and semiconductor sectors.A commerce graduate, Jatin's work focuses on tracking industry developments, regulatory changes and policy decisions that shape India’s evolving digital ecosystem. Over the years, he has reported on key trends and shifts across these sectors, bringing clarity to complex policy and business issues.Known for his strong news sense, Jatin focuses on breaking stories and delivering in-depth reporting that offers readers an understanding of complex topics, policy decisions and corporate developments. His work often examines the intersection of policy and business, highlighting how regulatory decisions impact industry strategy, pricing, and consumer outcomes.He brings a strong domain understanding for Mint and his work is widely picked up by other media firms. With a focus on accuracy and depth, he aims to break down developments into clear, accessible insights for readers, while continuing to track emerging trends shaping the future of India’s telecom and technology sectors.