Jio Platforms names Pankaj Pawar CEO as IPO preparations gather pace

Jio Platforms has appointed Pankaj Pawar as Chief Executive Officer, replacing Kiran Thomas as the Reliance Industries-owned digital services company prepares for its proposed initial public offering.

The leadership transition was disclosed in Jio Platforms’ draft IPO documents submitted to the Securities and Exchange Board of India in June. Thomas stepped down as CEO on March 23, 2026, and Pawar assumed the role the following day.

Pawar will hold the position alongside his existing responsibility as Managing Director of Reliance Jio Infocomm, the telecom operating subsidiary of Jio Platforms. The company’s FY2025-26 financial statements, signed in April, also identify Pawar as CEO, with Mathew Oommen serving as Group Chief Executive Officer.

A Reliance veteran takes charge

Pawar, 53, has been associated with the Reliance Group since 2000 and brings nearly three decades of experience in building and scaling consumer and digital services businesses, according to the draft prospectus.

His elevation creates a more direct leadership connection between Jio Platforms and its core telecom business. It also signals a focus on operational integration and execution as the company prepares to operate under greater public-market scrutiny.

Thomas, who previously served as President of Reliance Industries, had been one of the most visible executives associated with Jio’s digital growth story. However, he is not listed among Jio Platforms’ key managerial personnel in the draft prospectus. The company had not responded to media requests for further information about his departure at the time of reporting.

Leadership reset before a landmark listing

The management change comes ahead of an IPO through which Jio Platforms is reportedly seeking to raise approximately $4 billion, or ₹37,700 crore, at a valuation of around $137 billion. The proposed issue includes up to 27 crore new shares, representing nearly 2.9% of the company’s post-issue equity. The final offer size and price band remain subject to regulatory approvals and the book-building process.

Reliance Industries Chairman Mukesh Ambani is expected to serve as Jio Platforms’ Chairman and non-executive director, while Akash Ambani will continue as Managing Director. Isha Ambani, Anant Ambani and Manoj Modi are listed as non-executive directors in the proposed board structure.

The IPO is intended to unlock value from Jio’s portfolio spanning telecommunications, digital services, enterprise technology and emerging businesses. Should it reach the reported fundraising size, the offering could surpass Hyundai Motor India’s ₹27,870-crore listing to become the country’s largest IPO.