Reliance Petroleum IPO subscription nearing half century mark

The subscription for Reliance Petroleum Initial Public Offering is nearing 50 times. At 8:00 PM today the issue was subscribed by whopping 48.44 times. The issue has been huge success considering the fact that the project has a long gestation period.

An employee of a broking firm said that they have huge backlog of forms and the time to punch-in the orders has been extended till 9:00 PM today. The retail portion of the issue has seen tremendous response in the last 2 days and the subscription has crossed more than 12 times.

Source : Equity Bulls

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