Reliance files Jio IPO DRHP; Jefferies, Nomura, Motilal see up to 28% upside
At Reliance's 49th AGM, the group detailed growth across retail, telecom, AI and energy and filed Jio Platforms' IPO DRHP with SEBI. Jio valued at Rs 11-12 trillion, offering 270 million shares (2.9% dilution) to 524 million subscribers. Retail arm pushing into manufacturing, exports and RCPL brands. Brokerages reiterate 'Buy' with targets up to Rs 1,675.
At Reliance's 49th AGM, the group outlined growth across retail, telecom, AI and energy, and filed Jio's IPO DRHP with SEBI. Brokerages Jefferies, Nomura and Motilal reiterated 'Buy' with up to 28% upside; Retail pushing into manufacturing, exports and RCPL brands.