RIL Petro may set IPO at Rs 57-62

Reliance Petroleum is understood to have fixed a price band of Rs 57-62 for its initial public offer to raise over Rs 5,000 crore.

Mukesh Ambani-controlled Reliance Petroleum is understood to have fixed a price band of Rs 57-62 for its initial public offer to raise over Rs 5,000 crore.

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The offer of RPL, a subsidiary of flagship Reliance Industries Ltd, is likely to open on April 13, market sources said.

RPL is coming out with the IPO to part-finance its Rs 27,000 crore greenfield refinery in Jamnagar, Gujarat.