Brokerages see up to 28% upside for Reliance after Jio IPO filing
Jefferies, Nomura and Motilal Oswal reiterated Buy on Reliance Industries with targets up to Rs 1,675 (28% upside) after Jio Platforms filed its IPO draft with SEBI. The listing—covering ~2.9% dilution via 270M shares at a Rs 11-12 trillion valuation—is framed as a key value-creation trigger alongside retail and clean-energy growth.
Reliance Industries' AGM detailed growth across telecom, retail, AI and clean energy, and filed Jio Platforms' IPO draft with SEBI. Jefferies, Nomura and Motilal reiterated Buy with up to 28% upside, framing Jio listing as key value-creation trigger.