Brokerages see up to 28% upside in Reliance Industries after Jio IPO filing
Reliance Industries detailed its Jio Platforms IPO filing with SEBI at its AGM, targeting an end-2026 listing. Jefferies, Nomura and Motilal Oswal reiterated Buy ratings, with target prices of Rs 1,640-1,675 implying 23.5-28% upside, citing retail and telecom growth pathways.
Reliance Industries' AGM detailed its Jio Platforms IPO filing with SEBI, targeting end-2026 listing. Brokerages Jefferies, Nomura and Motilal Oswal reiterated Buy with up to 28% upside, citing retail and telecom growth pathways.
Why this matters
The Jio IPO filing follows strong Reliance results, with standalone Q4 FY24 net sales of Rs 146,832 crore (up 23.7% YoY) and consolidated net sales of Rs 236,533 crore (up 11.08% YoY), underscoring retail and telecom momentum.
Retail-company signals are accelerating, up 419500% QoQ.