Brokerages see up to 28% upside in Reliance after Jio IPO filing
At its 49th AGM, Reliance filed Jio's IPO with SEBI and showcased growth across retail manufacturing, RCPL consumer brands, energy and AI. Jefferies (TP Rs 1,675), Motilal (Rs 1,655) and Nomura (Rs 1,640) reiterated Buy, valuing Jio at Rs 11-12 trillion on 524M subscribers.
At its 49th AGM, Reliance unveiled Jio's IPO filing with SEBI and growth across retail manufacturing/exports, RCPL consumer brands, energy and AI. Brokerages reiterated Buy with up to 28% upside, citing multiple value-creation engines.
Why this matters
The Jio IPO filing follows Reliance's DRHP submission and Ambani succession confirmation, with retail manufacturing and RCPL consumer brands anchoring the valuation story across recent signals.
Retail-company signals are accelerating, up +424500% QoQ.