The Jio Platforms IPO is poised to illuminate the digital arm’s standalone value, a development that could lift Reliance’s holding‑company valuation. New data from Religare Broking’s SVP Ajit Mishra suggests that the current 28‑30% discount applied to Jio within Reliance’s consolidated metrics will narrow substantially once the market sees a clear valuation of the platform.
Mishra notes that the IPO could bring in roughly ₹27,500 crore earmarked for debt reduction. This infusion is expected to strengthen the balance sheet, trim leverage, and lift free‑cash‑flow coverage across the conglomerate.
Beyond the digital sector, Mishra highlights that progress in retail, new‑energy, and oil‑to‑chemicals initiatives could further lift the stock. He projects a near‑term resistance at ₹1,350‑1,400, with a medium‑term target of ₹1,696 over the next 36 months.
The ultimate trajectory will depend on the IPO’s valuation metrics and subsequent earnings delivery. Analysts stress that a narrower discount and healthy earnings growth are prerequisites for a sustained upside.
Reliance’s shares have hovered within a broad trading range for almost two years, allowing valuation premiums to moderate. The Jio IPO is seen as the catalyst that could unlock this value, provided the market accepts the revised standalone valuation and the company delivers on its growth promises.
The next milestone will be the actual IPO pricing and the first earnings report post‑listing, which will crystallize the market’s view on the digital business’s contribution to Reliance’s top line.