Mumbai: The initial public offering by Anil Ambani Group firm Reliance Power on Thursday, January 17, made history with the IPO attracting bids for shares worth Rs2.05 trillion, highest in the Indian primary capital market.
The issue closes on Friday, January 18.
Bombay Stock Exchange data reveal that 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 January 17.
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 Rs2,00,000 crore with an over-subscription of 115 times, while the IPO of state-run Power Grid Corporation generated demand worth about the same level.
Reliance power 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.