Brokerages see up to 28% upside in Reliance after Jio Platforms IPO filing
Reliance filed Jio Platforms' DRHP for a possible 2026 listing at an Rs 11-12 trillion ($117-127B) valuation. Jefferies (TP Rs 1,675, 28% upside), Motilal Oswal (Rs 1,655, ~26%) and Nomura (Rs 1,640, 23.5%) reiterated Buy, citing growth across retail, telecom, AI and energy.
At its AGM, Reliance outlined growth across retail, telecom, AI and energy, and filed Jio Platforms' DRHP for a possible 2026 IPO. Brokerages Jefferies, Nomura and Motilal Oswal reiterated Buy with up to 28% upside.
Why this matters
The DRHP filing follows RIL shares hitting a 52-week low near Rs 1,290, down 19% over two years as retail growth softened. The Jio listing offers a fresh value-unlock catalyst for the stock.
Retail-company signals accelerating, up 687300% QoQ.