MUMBAI: Shares of Reliance Power Monday listed at Rs 530 on the NSE, higher by Rs 80 compared with the issue price of Rs 450 per share. Retail investors, who got a discount of Rs 20 on the issue price, stand to gain Rs 100. The stock touched low of Rs 401.10.
On the BSE, the stock listed at Rs 547.80. The stock touched a high of Rs 599.90 and low of Rs 420.05. The listing of Anil Dhirubhai Ambani group's first IPO after the demerger has been through troubled waters, with analysts casting doubts over valuation given that the company was yet to being operations.
This saw the grey market premium for the stock fall to Rs 150-155 from Rs 450 before and on the opening day of the issue on Jan 15. The withdrawal of Wockhardt Hospitals and Emaar MGF IPOs last week also cast a shadow over the companys listing, in an already volatile market.
People looking at just grey market premiums are taking a coloured view, chairman Anil Ambani said in an interview to The Economic Times. He also brushed aside questions over valuation, saying the IPO receiving commitments of nearly Rs 7,50,000 crore was the greatest testimony that the IPO was attractively priced.
Meanwhile, Bombay Stock Exchange's Sensex was at 17,464.89, down 1.44 per cent or 252.19 points from Friday's close. National Stock Exchange's Nifty was down 2.09 per cent or 106 points lower at 5013.45.
On the BSE, the stock listed at Rs 547.80. The stock touched a high of Rs 599.90 and low of Rs 420.05. The listing of Anil Dhirubhai Ambani group's first IPO after the demerger has been through troubled waters, with analysts casting doubts over valuation given that the company was yet to being operations.
This saw the grey market premium for the stock fall to Rs 150-155 from Rs 450 before and on the opening day of the issue on Jan 15. The withdrawal of Wockhardt Hospitals and Emaar MGF IPOs last week also cast a shadow over the companys listing, in an already volatile market.
People looking at just grey market premiums are taking a coloured view, chairman Anil Ambani said in an interview to The Economic Times. He also brushed aside questions over valuation, saying the IPO receiving commitments of nearly Rs 7,50,000 crore was the greatest testimony that the IPO was attractively priced.
Meanwhile, Bombay Stock Exchange's Sensex was at 17,464.89, down 1.44 per cent or 252.19 points from Friday's close. National Stock Exchange's Nifty was down 2.09 per cent or 106 points lower at 5013.45.
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