Reliance: Motilal, Jefferies, Nomura see up to 28% upside after Jio IPO filing
At its 49th AGM, Reliance filed Jio's DRHP with SEBI targeting a listing by end-2026. Analysts keep 'Buy' with TPs of Rs 1,640-1,675 (23.5-28% upside), valuing Jio at Rs 11-12 trillion on 524M subscribers. RIL detailed retail, AI and telecom growth plans.
At Reliance's 49th AGM, Jio's board approved and filed its IPO DRHP with SEBI, targeting a possible listing by end-2026. Jefferies, Nomura and Motilal Oswal maintained 'Buy' ratings with up to 28% upside; RIL detailed retail, AI and telecom growth plans.
Why this matters
Follows a run of signals flagging up to 28% upside for Reliance after the Jio IPO filing, with retail repeatedly cited as the key value engine and a pivot toward manufacturing.
Retail-company theme accelerating at +547700% QoQ.