Reliance Power IPO subscribed 9.69 times

The Initial Public Offering (IPO) of Reliance Power Limited which opened for subscription today (January 15, 2008) has received overwhelming response from investors with the issue receiving 9.69 times subscription till 2:00 PM as per the data available with NSE website.

The company is issuing 228,000,000 Equity Shares (excluding Promoters contribution of 32,000,000 equity shares) of Rs.10 each for cash at a price band of Rs. 405 TO Rs. 450 through 100% Book Building process.

The Issue has received total bids for 2209823850 equity shares against the offer of 228000000 equity shares.

The issue has received bids for 26036835 equity shares at cut-off price.

The IPO closes for subscription on January 18, 2008.

Source : Equity Bulls

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