Reliance files Jio IPO DRHP; Jefferies, Nomura, Motilal see up to 28% upside
At its AGM, Reliance mapped growth across retail, telecom, AI and energy while filing Jio's IPO with SEBI (270M shares, 2.9% dilution, Rs 11-12 trillion valuation). Brokerages reiterated 'Buy' with targets up to Rs 1,675. Retail is expanding into manufacturing and exports; FY26 revenue seen up 14.6% to Rs 1,468.9B.
At its AGM, Reliance 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 and exports.