Akash Ambani appointed MD of Jio Platforms ahead of IPO plans

Jio Platforms has appointed Akash Ambani as its managing director for a period of five years, effective April 9. The decision was approved at a board meeting held on the same day, marking a significant leadership move as the company prepares to file its draft red herring prospectus with the Securities and Exchange Board of India for a potential public listing.

The eldest son of Mukesh Ambani, Akash Ambani has been closely associated with the group’s telecom business for over a decade. He joined Reliance Jio Infocomm Limited as a non-executive director in 2014 after graduating in economics from Brown University. In June 2022, he was elevated to chairman of the telecom arm, taking on a more prominent leadership role within the group.

The leadership transition comes amid strong financial performance by Reliance Jio in FY26. The company reported quarterly revenue of Rs 44,929 crore in Q4, marking a 12.7% year-on-year increase, while profit after tax rose 13% to Rs 7,935 crore. EBITDA grew 17.9% YoY to Rs 20,060 crore, supported by revenue expansion and improved margins.

For the full fiscal year, Jio Platforms posted revenue of Rs 1,72,317 crore and a profit after tax of Rs 30,053 crore, reflecting sustained growth across its digital services portfolio.

Subscriber growth remained robust, with the total user base crossing 524 million in the January–March quarter, including 268 million 5G users. The company added 9.1 million net subscribers during the quarter, while average revenue per user (ARPU) rose to Rs 214, driven by an improved subscriber mix and tariff optimisation.

Jio also highlighted strong momentum in next-generation services, adding 75 million 5G users and around 10 million fixed broadband subscribers over the course of FY26, as it continues to scale its digital ecosystem.