Reliance: Motilal, Jefferies, Nomura flag up to 28% upside after Jio IPO draft filed
Jio's SEBI draft filing targets a late-2026 listing at an Rs 11-12 trillion valuation, offering 270 million shares (2.9% dilution) across 524 million subscribers. Brokerages reiterate Buy on Reliance, with TPs of Rs 1,640-1,675 as retail pushes into manufacturing, exports and RCPL scaling.
Reliance AGM outlined growth across telecom, retail, AI and energy. Jio filed IPO draft with SEBI, targeting late-2026 listing. Retail pushing into manufacturing/exports; RCPL scaling as consumer platform. Brokerages reiterate Buy with up to 28% upside.
Why this matters
Reinforces the emerging brokerage consensus of up to 28% upside on Reliance following the Jio IPO filing, and follows Reliance's Q1 FY27 results timing with Reliance Retail reporting the same day.
Retail-company signals are accelerating, up +718000% QoQ.