Jio files IPO as brokerages see up to 28% upside on Reliance; Retail pivots to manufacturing
At RIL's AGM, Jio Platforms filed its IPO draft (listing possible by end-2026) at an Rs 11-12 trillion valuation. Jefferies (TP Rs 1,675), Nomura (Rs 1,640) and Motilal Oswal (Rs 1,655) reiterated 'Buy'. Reliance Retail is pushing into manufacturing and exports while RCPL scales as a consumer platform.
At RIL's AGM, Jio filed its IPO draft (listing possible by end-2026) while Retail pushes into manufacturing/exports and RCPL scales as a consumer platform. Brokerages Jefferies, Nomura, Motilal Oswal reiterated 'Buy' with up to 28% upside.
Why this matters
Following the Jio IPO filing, brokerages flag up to 28% upside on Reliance and a retail manufacturing push, reinforcing recent signals that RIL's market cap now matches India's top 5 IT firms combined.
Retail-company signals are accelerating, up +541900% QoQ.