Motilal, Jefferies, Nomura see up to 28% upside on Reliance after Jio IPO filing
Reliance filed Jio Platforms' DRHP with SEBI at its 49th AGM, targeting an end-2026 listing. Three brokerages reiterated Buy with targets up to Rs 1,675 (28% upside), citing telecom, retail, AI and clean-energy growth. Jio counts 524M subscribers; FY26 revenue seen up 14.6% and EBITDA up 18.8%.
At Reliance's 49th AGM, the company filed Jio Platforms' DRHP with SEBI targeting an end-2026 listing. Jefferies, Nomura and Motilal Oswal reiterated Buy with up to 28% upside, citing telecom, retail, AI and clean-energy growth pathways.