Reliance Power Allotment

Reliance Power IPO’s issue price has been fixed at the top end of the price band at Rs 450 per equity share of Rs 10; the issue is likely to get listed some time in February after the allotment of shares to applicants.

On the prospects of retail investors getting allotment of shares, Mr Anil Ambani, Chairman, Reliance Anil Dhirubhai Ambani Group , said, “It will be ensured that each and every applicant is allotted a bare minimum number of shares.” ( As shares must be allotted on proportionate basis, I don't think he can fulfill this promise, Lets see)

Retail individual investors bid 14.4 times the 6.84 crore shares offered under the retail quota. Price for retail investors has been fixed at Rs 430 per share, a discount of Rs 20 per share.

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