Motilal, Jefferies, Nomura see up to 28% upside on Reliance after Jio IPO filing
Reliance filed Jio's IPO DRHP with SEBI at its AGM, targeting a listing by end-2026 at a Rs 11-12 trillion valuation. Brokerages reiterated Buy with targets of Rs 1,640-1,675, citing growth across Jio (524m subscribers), Reliance Retail, RCPL consumer brands, energy and AI.
At its AGM Reliance filed Jio's IPO DRHP with SEBI (listing possible by end-2026) and outlined growth across retail manufacturing/exports, RCPL consumer brands, energy and AI. Jefferies, Nomura and Motilal reiterated Buy with up to 28% upside.