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Reliance Jio
Digital services company Jio Platforms has appointed Akash Ambani as managing director of the company ahead of its initial public offering, according to a regulatory filing. Jio Platforms is expected to file draft papers for its Initial Public Offering (IPO) by the end of May or in June. "Akash M Ambani...appointed as managing director of the company, for a period of 5 years with effect from April 9, 2026," the filing dated May 7 said. Ambani has been on the board of Jio Platforms' telecom arm Reliance Jio Infocomm (RJIL) since October 2014. In June 2022 , he was elevated to the position of Chairman of RJIL. During his tenure, Jio achieved the feat of crossing the 100 million subscriber mark in less than six months of its launch in 2016. The company posted profit of over Rs 30,000 crore and revenue of Rs 1.46 lakh crore for fiscal year 2026.
Reliance Industries' planned listing of its digital arm Jio Platforms could be delayed to the second half of fiscal 2027 due to geopolitical tensions in the Middle East, CreditSights said on Wednesday. In its commentary on FY26 earnings of India's most valuable company, CreditSights said the management in the earnings call shared that "the Jio IPO was imminent." Earlier market rumors reported that the IPO could come as early as May, with Reliance looking to shed 2.5-3 per cent stake from its existing 67 per cent stake in Jio for close to USD 4 billion (Rs 37,500 crore). "We believe the Mideast conflict may delay Jio's IPO towards the second half of the year," CreditSights, part of the Fitch Group, said. "A Jio IPO will raise cash for debt repayment and capex, and improve Jio's competitiveness against rivals Bharti and Vodafone Idea." Reliance reported 2025-26 (FY26) revenue and EBITDA growth of 10 per cent and 8 per cent year-on-year, respectively, with retail and telecom continuin
Jio-BP, the fuel joint venture of Reliance Industries Ltd and BP Plc, does not plan to raise fuel prices immediately despite a spike in international oil prices, its chief executive Akshay Wadhwa said on Friday. The country's second-largest private fuel retailer has kept retail petrol and diesel rates steady, just like public sector firms, which have not passed on the surge in raw material (crude oil) cost to consumers for fear of spiking inflation. "We are in this with the country," Wadhwa said on the sidelines of an industry event here. The war in West Asia has driven international oil prices above USD 100 per barrel, but domestic consumers have been insulated by the oil companies and the government, which cut excise duty on petrol and diesel to obviate the need for raising prices to some extent. Nayara Energy, in which Russian oil giant Rosneft hold the largest shareholding, has increased petrol price by Rs 5 a litre and diesel by Rs 3. Nayara is the country's largest private fu