Motilal, Jefferies, Nomura see up to 28% upside in Reliance after Jio IPO filing
At Reliance's 49th AGM, Jefferies, Nomura and Motilal reiterated Buy calls with targets up to Rs 1,675 (28% upside), citing Jio's SEBI IPO filing for a listing by end-2026, plus growth momentum in retail, AI and clean energy. Jio is valued at Rs 11-12 trillion with 524 million subscribers.
At Reliance's 49th AGM, brokerages Jefferies, Nomura and Motilal reiterated Buy with up to 28% upside, citing Jio's SEBI IPO filing (listing by end-2026), plus growth plans across retail, AI and clean energy.
Why this matters
Reinforces a consistent brokerage view: multiple firms flag up to 28% upside in Reliance after Jio's DRHP filing for a 2026 listing, alongside a broader retail push into manufacturing.
Retail-company signals accelerating, up +695600% QoQ.