Business Daily from THE HINDU group of publications
Sunday, Jan 20, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Sunday, Jan 20, 2008 ePaper | Mobile/PDA Version |
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Power Markets - IPOs
Issue listing likely in Feb Retail investors committed Rs 44,000 cr Mobilises record Rs 1.15 lakh crore deposit 
Massive support: Mr Anil Ambani, Chairman, Reliance Anil Dhirubhai Ambani Group, addressing a press conference in Mumbai on Saturday. - Shashi Ashiwal Our Bureau Mumbai, Jan 19 Reliance Power IPO’s issue price has been fixed at the top end of the price band at Rs 450 per equity share of Rs 10; the issue is likely to get listed some time in February after the allotment of shares to applicants. On the prospects of retail investors getting allotment of shares, Mr Anil Ambani, Chairman, Reliance Anil Dhirubhai Ambani Group , said, “It will be ensured that each and every applicant is allotted a bare minimum number of shares.” Retail individual investors bid 14.4 times the 6.84 crore shares offered under the retail quota. Price for retail investors has been fixed at Rs 430 per share, a discount of Rs 20 per share. “The issue received a record 50 lakh retail applications and the retail investors made a commitment of Rs 44,000 crore, which was enough for the issue to have been fully subscribed by the retail investors itself,” Mr Ambani, told newspersons during a press conference in Mumbai on Saturday. In terms of total application money deposited in banks, again the Reliance Power IPO set a record by mobilising Rs 1.15 lakh crore, it was stated during a media briefing on the highlights of the public issue. The largest IPO in terms of money being raised, at Rs 11,700 crore, drew a phenomenal response from both institutional and retail investors by taking the subscription count to 73 times the 22.8 crore shares on offer, as per the final composite data after the closure of the issue on January 18. Retail investors also had the option of depositing Rs 115 per share at the time of application. Corporates’ and the high net worth individuals’ bids reached 190 times for 2.28 crore shares on offer. The portion reserved (13.68 crore shares) for qualified institutional buyers including FIIs got subscribed 82 times. Reliance Power IPO subscribed 72 times Reliance Power IPO: Most subscribe in the upper band Reliance Power — IPO: Invest More Stories on : Power | IPOs
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