Reliance files Jio IPO prospectus; Jefferies, Nomura, Motilal flag up to 28% upside
At its 49th AGM, Reliance filed Jio Platforms' IPO prospectus targeting an end-2026 listing (270M shares, 2.9% dilution, Rs 11-12 trillion valuation). Management outlined growth across retail manufacturing/exports, RCPL consumer brands, energy and AI. Brokerages maintain Buy with targets up to Rs 1,675.
At its 49th AGM, Reliance filed Jio's IPO prospectus (listing eyed end-2026) and outlined growth across retail manufacturing/exports, RCPL consumer brands, energy and AI. Jefferies, Nomura and Motilal maintain Buy with up to 28% upside.
Why this matters
Follows a run of brokerage calls after the Jio IPO filing, with Jefferies, Nomura and Motilal staying Buy and Reliance's retail arm pushing into manufacturing.
Retail-company signals are accelerating, up 645000% QoQ.