Brokerages see up to 28% upside in Reliance after Jio IPO filing
Following Reliance's 49th AGM and Jio Platforms' IPO draft filing with SEBI targeting an end-2026 listing, Jefferies, Nomura and Motilal Oswal maintained Buy ratings with target prices up to Rs 1,675. Jio is valued at Rs 11-12 trillion with 524 million subscribers and a 51.9% EBITDA margin.
Reliance's 49th AGM laid out growth across retail, telecom, AI and clean energy; Jio filed IPO draft with SEBI targeting end-2026 listing. Brokerages Jefferies, Nomura, Motilal maintained Buy with up to 28% upside.