Reliance files Jio DRHP; Motilal, Jefferies, Nomura see up to 28% upside
At its AGM, Reliance filed Jio Platforms' DRHP with SEBI targeting an end-2026 listing, offering 270 million shares (2.9% dilution) at a Rs 11-12 trillion valuation. Retail is pushing into manufacturing and exports while RCPL scales. Brokerages reiterated 'Buy' with targets of Rs 1,640-1,675.
At Reliance's AGM, the company filed Jio Platforms' DRHP with SEBI targeting a possible end-2026 listing, while flagging Retail pushing into manufacturing/exports and RCPL scaling. Jefferies, Nomura, Motilal Oswal reiterated 'Buy' with up to 28% upside.