Brokerages peg Jio at $107-128B ahead of H1 2026 IPO, setting stage for Reliance Retail listing
Jefferies ($127B), Morgan Stanley ($124B), Bernstein ($111B) and CLSA ($107B) value Jio's 480M-subscriber business between $107-128B ahead of its H1 2026 IPO. Analysts expect the listing to pave the way for a separate Reliance Retail IPO, unlocking further value for RIL shareholders.
Brokerages value Jio at $107-128 billion ahead of its H1 2026 IPO, with analysts expecting the listing to pave the way for a separate Reliance Retail IPO, further unlocking value for Reliance Industries shareholders.
Why this matters
Builds on Reliance's restructuring momentum: Jio IPO could make RIL parent of India's top two listed firms, alongside O2C expansion and Ambani's succession handover splitting consumer, tech and energy verticals.
Retail-company signals steady at 3,461 over 90 days, reflecting sustained sector activity.