Anil Ambani's Reliance Power has got 4.3 million investors after its larget IPO in Indian capital market history subscription. But each investor, who has applied for the issue, will get only 15 shares each in IPO.
4 lakh investors, who have applied for less than 225 shares, will not get any allotment. 3 lakh applications disqualified.
Share allocation process will end today. Excess share application money refund will begin on Friday.
Reliance Power, Anil Dhirubhai Ambani Group Company, had come out with an IPO of 22.8 crore shares with face value of Rs 10 each at a price band of Rs 405-450. Its issue had received an excellent response and 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.The issue received bids for 16.65 billion equity shares as against 22.8 crore shares on offer.
The company raised nearly Rs 10260 crore from this public issue excluding promoters’ contribution.
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