The youngest son of Reliance Industries Chairman, Mukesh Ambani - Anant has joined the Jio Platforms as an additional director. On 16th of March, 2020 he was reportedly said to have joined the board in a report citing fillings with the Registrar of Companies.
Jio Platforms, which is a subsidiary of Reliance Industries, mostly comprises of its telecom business under Reliance Jio Infocomm which has become the largest in the country with more than 388 million subscribers and other digital properties such as Jio Cinema, Jio Saavn and Haaptik.
A Brown University alumnus, Anant Ambani, is the youngest of the three Ambani siblings. Akash and Isha his other siblings had already joined the boards of the telecom and retail ventures- Reliance Jio Infocomm and Reliance Retail back in 2014 and have also joined the board of Jio Platforms.
The joining of Mukesh Ambani’s youngest son comes at a time when Jio Platforms is on a fundraising spree to achieve the company’s goal to make RIL debt free. Around the past two weeks, Jio Platforms has sold around 17.12% stake to strategic investors such as Facebook and Global Technology investors like Silver Lake, Vista Equity Partners, General Atlantic and KKR to raise around Rs. 78,562 crores.
A report also states that the company is mulling overseas listing of its platforms to get higher valuations. It has also consistently talked about building Jio Platforms into a digital entity along the lines of Alphabet and Tencent. It is also reported that the oil-to-telecom conglomerate is expected to list Jio Platforms in global stock markets over the next 12 to 24 months.