Brokerages see up to 28% upside in Reliance after Jio IPO filing
At Reliance's 49th AGM, Jio Platforms filed its DRHP for a possible end-2026 IPO valued at Rs 11-12 trillion. Jefferies, Nomura and Motilal Oswal reiterated Buy, setting targets of Rs 1,640-1,675 (23.5-28% upside), citing growth across retail, telecom, AI and clean energy.
At Reliance's 49th AGM, the company outlined growth across retail, AI, telecom and clean energy, with Jio Platforms filing its DRHP for a possible end-2026 IPO. Brokerages Jefferies, Nomura and Motilal reiterated Buy with up to 28% upside.