The initial public offer of Reliance Power, Anil Dhirubhai Ambani Group Company, has received an excellent response since day one despite negative sentiment in markets as well as across the globe. The issue 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.
Subscription Details
| Times | |
| Qualified institutional buyers | 82.62 |
| Non institutional investors | 190.02 |
| Retail individual investors | 14.87 |
| Total | 73.04 |
The issue received bids for 16.65 billion equity shares as against 22.8 crore shares on offer.
The price band is between Rs 405-450 per share. The company is likely to raise more than Rs 10000 crore from this public issue excluding promoters’ contribution.
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