Reliance Industries (RIL) chairman Mukesh Ambani has inducted his youngest son Anant Ambani as an additional director on the board of Jio Platforms Limited (JPL), a six-month-old digital firm, valued at over ₹5 lakh crore, with backing from marquee names such as Facebook, General Atlantic, Silver Lake, Vista and KKR, among others, as investors.
“Anant Ambani had been inducted on Jio Platforms board just before the lockdown began in March and the company got equity infusion of over ₹78,000 crore from global investors,” a source in the know of the development told The Hindu .
Mr. Anant, who had stayed away from family business so far, has joined Jio Platforms, which already has his elder brother Akash Ambani and sister Isha Ambani as board members.
In 2014, Ms. Isha and Mr. Akash were appointed as directors on the boards of RIL’s telecom and retail businesses.
Other board members of Jio Platforms include Pankaj Pawar and Kiran Mathew Thomas.
Jio Platforms has sold 17.12% stakes to investors like Facebook, General Atlantic, Silver Lake, Vista and KKR for ₹78,562.13 crore, valuing the company at ₹5.16 lakh crore.
An e-mail sent to RIL remained unanswered till the time of going to press.
RIL shares on the BSE declined 0.55% to close at ₹1,423.70 in an almost flat Mumbai market on Tuesday, valuing the company at ₹9,02,540.86 crore.
