Reliance Power IPO sold over 11 times on day 2

Reliance Power IPO sold over 11 times on day 2
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First Published: Wed, Jan 16 2008. 03 09 PM IST
Updated: Wed, Jan 16 2008. 03 09 PM IST
PTI
Mumbai: The IPO of Anil Ambani group’s Reliance Power was subscribed over 11 times the number of shares on offer in the afternoon of 16 January — the second day of the issue.
According to the latest data available on the National Stock Exchange, the IPO got subscribed 11.29 times till 1300 hours.
It received bids for over 257 crore shares as against 22.80 crore shares on offer. The issue, which will close on 18 January, has already generated demand for shares worth Rs132,093 crore.
The company is offering the equity shares at a price band of Rs405-450 a share.
The total size of the IPO is 26 crore equity shares, including promoters’ contribution of 3.2 crore shares. The net issue to the public constitutes 22.8 crore shares.
Reliance Power says it has a portfolio of 13 medium and large power projects under development and strategically located at various places across India.
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First Published: Wed, Jan 16 2008. 03 09 PM IST