Brokerages see up to 28% upside in Reliance after Jio IPO filing
At its 49th AGM, Reliance mapped growth across Jio, Retail, RCPL brands, energy and AI. Jio filed its DRHP with SEBI targeting a late-2026 listing at a Rs 11-12 trillion valuation. Jefferies (TP Rs 1,675, 28%), Motilal Oswal (Rs 1,655, 26%) and Nomura (Rs 1,640, 23.5%) reiterated Buy.
At its 49th AGM, Reliance outlined growth across Jio, Retail (pushing into manufacturing/exports), RCPL consumer brands, energy and AI. Jio filed its DRHP with SEBI targeting a late-2026 listing; brokerages reiterated Buy with up to 28% upside.
Why this matters
The Buy calls follow Reliance's 49th AGM and Jio's DRHP filing, extending the up-to-28% upside view flagged across recent brokerage signals from Jefferies, Nomura and Motilal Oswal.
Retail-company signals are accelerating, up 764000% QoQ.