Motilal, Jefferies, Nomura reiterate Buy on Reliance, see up to 28% upside after Jio IPO filing
Reliance filed Jio IPO papers with SEBI for a possible end-2026 listing at an Rs 11-12 trillion valuation. Brokerages set targets of Rs 1,640-1,675 (up to 28% upside), citing 524M+ subscribers and retail's push into manufacturing and exports flagged at the AGM.
At its AGM, Reliance detailed growth across telecom, retail, AI and energy, with Jio filing IPO papers with SEBI for a possible end-2026 listing. Brokerages Jefferies, Nomura and Motilal reiterated Buy, seeing up to 28% upside; Retail pushing into manufacturing/exports.