Brokerages see up to 28% upside in Reliance after Jio files IPO DRHP with SEBI
At Reliance's 49th AGM, Jefferies, Nomura and Motilal Oswal reiterated 'Buy' ratings, setting targets up to Rs 1,675 (28% upside) after Jio Platforms filed its IPO draft with SEBI. The listing—eyed for late 2026—involves 270 million shares and ~2.9% dilution, with Jio valued at Rs 11-12 trillion on 524 million subscribers.
At Reliance's 49th AGM, brokerages Jefferies, Nomura and Motilal kept 'Buy' ratings seeing up to 28% upside after Jio filed its IPO DRHP with SEBI, targeting a possible late-2026 listing across telecom, retail, AI and clean energy plans.