Reliance Petroleum IPO subscribed 51.32 times

The Initial Public Offering of Reliance Petroleum Ltd has evoked tremendous response from all sections of investors. The issue has received subscription for a whopping 51.32 times. The issue opened on April 13, 2006 and closed on April 20, 2006. The company came out with an IPO of 450,000,000 Equity Shares of Rs.10 each at a price band of Rs.57 to Rs.62 aggregating nearly Rs.2700 crores.

The Qualified Institutional Buyers (QIBs) portion of the issue received highest subscription of 68.2266 times followed by Non Institutional Investors with 59.1364 times. The Retail Individual Investors (RIIs) also poured money into the IPO with their portion receiving subscription of 14.9111 times. The Retail Individual Investors (RIIs) portion received subscription of nearly 12 times in the last 2 days.

Already rumours are floating around that the stock would list at a substantial premium to the offering price.

Source : Equity Bulls

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