According to company disclosures seen by Mint, Jio Platforms Limited has appointed Akash M. Ambani as its managing director for a period of five years, effective 9 April 2026. The appointment was announced through filings with the ministry of corporate affairs (MCA) dated 7 May, with the board meeting held on 9 April to approve the leadership change. Akash is the eldest of the three children of Reliance Industries chairman and managing director Mukesh Ambani and joined the leadership team at Reliance Jio Infocomm Limited as non-Executive Director in 2014 after completing his economics degree from Brown University. He was later appointed as chairman of Reliance Jio Infocomm Limited in June 2022.
The leadership rejig comes as Jio Platforms moves closer to filing its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to get approval for listing on the stock exchanges. As reported by Mint, the company has also appointed Zia Jaydev Mody, co-founder and managing partner of AZB & Partners as independent director for five years, effective 21 April, bringing the total board membership to 10 including Anant Ambani, Akash Ambani, Isha Ambani, Mukesh Ambani, Dinesh Kanabar, Manoj Modi, Raminder Gujral, Haigreve Khaitan, and Shumeet Banerji.
For FY26, Jio Platforms reported a 14.7% increase in revenue from operations to ₹1.72 trillion and net profit of ₹30,053 crore, representing a 15% growth. According to company filings, EBITDA for the full year rose 19% to ₹76,255 crore, which the company attributed to traction in mobility, home broadband and enterprise services. The growth was driven by subscriber additions, higher data consumption and continued traction in the home broadband segment, with the company's total subscriber base reaching 524.4 million as of March end.
The IPO is positioned as India's biggest by a private company, with analysts at Morgan Stanley and Citi Research pegging 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). As reported by Mint, Mukesh D. Ambani stated in the Q4 earnings statement on 24 April that the company is advancing steadily towards the listing, targeting a listing in the first half of 2026. The groundwork for the IPO started last year when Mukesh Ambani announced during Reliance Industries' annual general meeting that the company is making arrangements to file for a public offer.
