Reliance Power trading below its listing price on BSE, NSE

February 11th, 2008 - 2:48 pm ICT by admin  


Mumbai, Feb 11 (ANI): Anil Dhirubhai Ambani Group’s Reliance Power stock, that was listed at 548 rupees on the Bombay Stock Exchange (BSE), was trading at 417 rupees, a discount of 33 rupees, at 1200hrs. Around 34 million shares were either sold or bought so far on the exchange.

On the National Stock Exchange (NSE), the stock was listed at Rs 530, and was trading at 418 rupees with around 80.5 million shares traded on the exchange.

Reliance Power, which last month made the countrys largest-ever initial public offering of three billion dollars, fell at its debut on the stock markets.

This is a historic day in the history of Indian capital markets that a company will have the privilege of the status of having over 42 million retail investors, by far, the largest in the world,” said ADAG chairman Anil Ambani, in a speech at a function held just before the listing of the issue.

It may be recalled that the much sought after Reliance Power Initial Public Offer (IPO) was subscribed approximately 70 times. The IPO attracted over five million bids from all categories of domestic and international investors.

Last month, the three-billion IPO was oversubscribed within hours of opening of its book building process. The company has come out with an IPO in the price band of 405-450 per share.

Reliance Power has planned power units with capacity of 28,200 Mega Watt (MW). The company has one of the largest portfolios of power generation assets under development in the country.

Reliance Energy, part owner of Reliance Power would hold 45 per cent stake in the company post-issue. (ANI)

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