Reliance Power IPO generates demand worth Rs 2.05 tn | business | Hindustan Times
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Reliance Power IPO generates demand worth Rs 2.05 tn

business Updated: Jan 17, 2008 16:45 IST

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An initial public offering by Anil Ambani Group firm Reliance Power on Thursday made history with the IPO attracting bids for shares worth Rs 2.05 trillion, highest in the Indian primary capital market.

The issue closes tomorrow.

According to the latest data available on the Bombay Stock Exchange, the IPO received bids for 452.43 crore shares as against the 22.8 crore shares on offer till 1400 hrs on its third day on Thursday.

The demand for the Reliance Power IPO has surpassed that of Mundra Port and SEZ, which had generated the biggest demand for its initial offer last year receiving bids worth about Rs 2,00,000 crore with an over-subscription of 115 times, while the IPO of state-run Power Grid Corporation also generated demand worth about the same level.

The company is offering equity shares at a price band of Rs 405-450 per share. The issue had opened on January 15.

The total size of the IPO is 26 crore equity shares, including the promoters contribution of 3.2 crore shares. The net issue to the public constitutes 22.8 crore shares.

Reliance Power has a diversified portfolio of 13 medium and large-sized power projects under development and is strategically located at various places across India, according to the company.