Reliance Jio IPO: Ahead of much-awaited initial public offering, Jio Platforms, the telecom and digital venture of Reliance Industries Limited (RIL), has appointed Akash Ambani as managing director.
"Akash M Ambani…appointed as managing director of the company, for a period of 5 years with effect from April 9, 2026," according to a filing dated May 7, as per PTI.
Ambani has been on the Board of the Jio Platforms' telecom unit, Reliance Jio Infocomm (RJIL), since October 2014. In June 2022, he was elevated to the position of Chairman of RJIL.
This comes days after reports claimed that Jio Platforms is expected to file its draft red herring prospectus (DRHP) with markets regulator SEBI within the fortnight. However, the timeline could change depending on conditions.
Reliance Jio IPO could be a pure fresh issue, says report
The initial share sale of Jio Platforms could be exclusively a fresh issuance of shares, with no offer for sale (OFS), The Economic Times reported, citing three sources.
The report said that the telecom operator may abandon its OFS plan due to differences with existing investors.
According to an ET report, existing shareholders of Jio want the issue price to be as high as possible. However, RIL believes that a high price could impact retail investors if it leads to a listing day loss.
Another source told the publication that RIL chairman Mukesh Ambani wants to protect retail investors. "There must be room for upside in the stock price post-listing," the person in the knowledge told ET.
Last month, Mukesh Ambani said that Reliance Jio Platforms is moving steadily towards the listing.
"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," he said.