Reliance eyes up to 28% upside as Jio files IPO draft; brokerages reiterate Buy
Post-AGM, Jio filed its IPO draft with SEBI targeting a listing by end-2026 at a Rs 11-12 trillion valuation. Jefferies, Nomura and Motilal reiterated Buy on the parent with targets up to Rs 1,675 (28% upside). Retail arm pushes manufacturing, exports and RCPL consumer brands.
Reliance AGM outlined growth across Jio, Retail (pushing manufacturing/exports), RCPL consumer brands, energy and AI. Jio filed IPO draft with SEBI; brokerages Jefferies, Nomura, Motilal reiterated Buy with up to 28% upside on the parent.