In a significant leadership transition ahead of its much-anticipated public listing, Jio Platforms, the digital services arm of Reliance Industries Limited (RIL), has appointed Akash Ambani as managing director for a five-year term.

The appointment, effective April 9, 2026, was disclosed in a regulatory filing dated May 7 and comes at a crucial juncture as Jio Platforms gears up for its highly anticipated initial public offering (IPO).

"Akash M. Ambani... has been appointed as managing director of the company for a period of five years with effect from April 9, 2026," the filing dated May 7 said.

According to reports, the company is expected to file its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) by the end of May or in June.

Akash Ambani, the eldest son of RIL Chairman & MD Mukesh Ambani, has played a pivotal role in driving the group’s digital ambitions over the past decade. He joined the board of Jio Platforms' telecom arm, Reliance Jio Infocomm Ltd (RJIL), in October 2014 and was later elevated as chairman of the company in June 2022.

Last month, Jio Platforms announced the appointment of Dan Bailey as president of Jio Platforms, where he will lead the company’s international business initiatives. Based in London, Bailey will report to Akash Ambani, chairman of Reliance Jio Infocomm Ltd. He will also join the executive committee of Jio Platforms and contribute more broadly across the business, RIL said in a statement.

Bailey brings more than 35 years of experience across consulting and investment banking. Over his career, he has held senior leadership roles at Schroders/Citi, Morgan Stanley and HSBC.

Bailey’s appointment follows Jio Platforms’ stated strategy to expand beyond India. As outlined at its most recent annual general meeting, the company is positioning its next phase of growth around taking its digital platforms and technologies to global markets.

Over the past decade, Jio has developed connectivity and digital solutions serving more than a billion people in India and now aims to extend these capabilities internationally.

Jio Platforms to soon file IPO papers

According to reports, Jio Platforms is preparing to file its draft papers for an IPO by the end of May or in June. The company had originally targeted a March filing for its DRHP with Sebi, but the process was delayed amid market volatility triggered by geopolitical tensions in West Asia and uncertainty surrounding revised listing norms for large IPOs.

With an estimated valuation of nearly $150 billion, the proposed offering is expected to rank among India’s biggest-ever IPOs, making favourable market liquidity conditions crucial for its success. Recently, the finance ministry eased listing requirements for mega IPOs by allowing companies with a post-issue valuation exceeding ₹5 lakh crore to dilute a minimum 2.5% stake, compared with the earlier threshold of 5%.

At Jio Platforms’ estimated valuation, a 2.5% stake sale could translate into an IPO size of around $3.75 billion. Company executives, however, indicated that Reliance Industries has historically priced public offerings attractively to reward retail investor participation.

Brokerage firm CLSA, in a January report, said it prefers free cash flow yield as the most relevant valuation benchmark for Jio compared with global telecom peers. Based on this methodology, the brokerage estimated Jio’s enterprise value at $161–190 billion by March 2027–28, factoring in a premium over international telecom companies.

Reliance Industries currently owns about 66.4% in Jio Platforms, while global technology giants Meta and Google hold 9.99% and 7.73%, respectively. The remaining stake is distributed among private equity investors and sovereign wealth funds, effectively aligning the company with the minimum public shareholding norms applicable to listed firms.

Jio Platforms houses a wide portfolio of businesses, including telecom operator Reliance Jio Infocomm, 5G services, digital applications, home broadband, and enterprise technology solutions. During the first nine months of FY26, the company reported a 15.4% rise in gross revenue to ₹1.27 lakh crore, while net profit increased 15.8% to ₹22,118 crore.

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