The Reliance Power (RPower) counter saw high volume of 38.61 lakh shares shares in opening trade on BSE. Reliance Power had priced IPO at the top end of the Rs 405-450 price band. Retail investors were offered shares at Rs 430 i.e. at a discount of Rs 20 per share.
Reliance Power will also be simultaneously listed on the futures and options segments of BSE and NSE. Lot size of Reliance Power on NSE''s futures and options segment is set at 450. Reliance Energy (REL) and closely held promoter group company, AAA Projects hold equal 45% stake in Reliance Power. Reliance Power IPO had got overwhelming investor response. The issue had got an aggregate commitment of over Rs 7.50 lakh crore, as against the issue size of Rs 11,560 crore. With around 42 lakh shareholders, Reliance Power will be the largest shareholder base company among the companies listed on the stock exchanges. The qualified institutional buyers (QIBs) category was subscribed 82.61 times, the non institutional investors portion was subscribed 190.02 times and the retail portion was subscribed 14.87 times.
Reliance Power is developing 13 power generation projects with a capacity of 28,200 megawatt (MW). These 13 projects are to be executed over the next eight years. All power projects, except one at Dadri in Uttar Pradesh are to be executed through various subsidiaries of the company and are currently under various stages of development. The company plans to use the IPO proceeds to fund subsidiaries to part-finance the construction and development costs of its projects under development and for general corporate purposes.
Reliance Power will also be simultaneously listed on the futures and options segments of BSE and NSE. Lot size of Reliance Power on NSE''s futures and options segment is set at 450. Reliance Energy (REL) and closely held promoter group company, AAA Projects hold equal 45% stake in Reliance Power. Reliance Power IPO had got overwhelming investor response. The issue had got an aggregate commitment of over Rs 7.50 lakh crore, as against the issue size of Rs 11,560 crore. With around 42 lakh shareholders, Reliance Power will be the largest shareholder base company among the companies listed on the stock exchanges. The qualified institutional buyers (QIBs) category was subscribed 82.61 times, the non institutional investors portion was subscribed 190.02 times and the retail portion was subscribed 14.87 times.
Reliance Power is developing 13 power generation projects with a capacity of 28,200 megawatt (MW). These 13 projects are to be executed over the next eight years. All power projects, except one at Dadri in Uttar Pradesh are to be executed through various subsidiaries of the company and are currently under various stages of development. The company plans to use the IPO proceeds to fund subsidiaries to part-finance the construction and development costs of its projects under development and for general corporate purposes.
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