Brokerages see up to 28% upside in Reliance after Jio IPO filing, retail push into manufacturing
Reliance filed Jio's IPO prospectus with SEBI targeting a late-2026 listing at a Rs 11-12 trillion valuation. Jefferies, Nomura and Motilal reiterated Buy, with target prices up to Rs 1,675 (28% upside). AGM outlined growth across retail, telecom, AI and energy, with retail expanding into manufacturing and exports.
At its AGM, Reliance outlined growth across retail, telecom, AI and energy, and filed Jio's IPO prospectus with SEBI targeting a late-2026 listing. Brokerages Jefferies, Nomura and Motilal reiterated Buy with up to 28% upside. Retail is expanding into manufacturing and exports.
Why this matters
The Jio DRHP filing builds on brokerage optimism, with Motilal, Jefferies and Nomura reiterating up to 28% upside as the DRHP unlocks value across retail, telecom and AI.
Retail-company theme accelerating at +559700% QoQ.