Rel Power IPO subscribed 73x; gets bids of Rs 7.5 lk cr
Published on Sat, Jan 19, 2008 at 08:53 | Source : Moneycontrol.com
Updated at Mon, Jan 21, 2008 at 11:24
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Rel Power IPO subscribed 73x; gets bids of Rs 7.5 lk cr
The initial public offer of Reliance Power, Anil Dhirubhai Ambani Group Company, has received an excellent response since day one despite negative sentiment in markets as well as across the globe. The issue subscribed 73.04 times and received bids worth about Rs 7.5 lakh crore.
The initial public offer of Reliance Power, Anil Dhirubhai Ambani Group Company, has received an excellent response since day one despite negative sentiment in markets as well as across the globe. The issue subscribed 73.04 times and received bids worth about Rs 7.5 lakh crore.
The reserve portion of QIBs subscribed 83 times and non institutional investors 190 times and retail nearly 15 times.
Subscription Details
Investors
Times
Qualified institutional buyers
82.62
Non institutional investors
190.02
Retail individual investors
14.87
Total
73.04
The issue received bids for 16.65 billion equity shares as against 22.8 crore shares on offer.
The price band is between Rs 405-450 per share. The company is likely to raise more than Rs 10000 crore from this public issue excluding promoters' contribution.
