Reliance Power IPO Allotment Information

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.

Reliance Power IPO subscribes 47 times

Reliance Power Ltd's public issue has so far generated demand for shares worth more than $123 billion (Rs 4,84,227 crore) as bids continued to pour in on the last day of the Anil Ambani Group firm's IPO. The IPO received bids for 1,076.06 crore shares as against the 22.8 crore shares on offer, getting subscribed over 47.20 times so far, according to data available on National Stock Exchange till 1300 hrs. The public offer has already set a number of records, including the highest amount to be raised at Rs 11,700 crore and the maximum demand generated. The previous biggest IPO in terms of funds raised was real estate firm DLF that mopped up over Rs 9,000 c rore, while the public issue of Adani's Mundra Port and SEZ Ltd had generated a demand of shares worth more than Rs 200,000 crore. The company is offering equity shares at a price band of Rs 405-450 per share. The issue had opened on January 15 and clos es today. The total size of the IPO is 26 crore shares, including promoters' contribution of 3.2 crore shares. The net issue to the public is 22.8 crore shares. Reliance Power has a diversified portfolio of 13 medium and large-sized power projects under development and strategically located at various places across India, according to the company. source: Hindu