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Tuesday, Jan 15, 2008
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Promoters buy Rel Power shares

Mumbai, Jan 14

A day ahead of the opening of Reliance Power Ltd IPO, promoters Reliance Energy Ltd and Anil Ambani, have purchased 3.2 crore shares of the company at Rs 450 a share, which amounts to Rs 1,440 crore. The subscription price for these shares has been determined at the upper end of the price band of Rs 405-450 per share. The issue opens for public subscription on January 15 and closes on January 18. The IPO is expected to raise an amount in the range of Rs 10,700 crore-Rs 11,700 crore. - Our Bureau

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