Brokerages see up to 28% upside in Reliance after Jio IPO filing
Reliance's AGM detailed the Jio IPO filing alongside growth in retail manufacturing, exports and RCPL consumer brands. Jefferies, Nomura and Motilal Oswal maintained 'Buy' with targets up to Rs 1,675, valuing Jio at Rs 11-12 trillion on a 524 mn subscriber base.
Reliance's AGM outlined Jio IPO filing and growth across retail manufacturing/exports and RCPL consumer brands. Brokerages Jefferies, Nomura and Motilal maintained 'Buy' with up to 28% upside, reinforcing parent-level capital flows underpinning its retail arm.
Why this matters
Follows repeated brokerage calls backing up to 28% upside as Jio files its DRHP and targets an end-2026 listing, with Reliance Retail pushing into manufacturing.
Retail-company signals are accelerating, up +510100% QoQ.