Reliance power fixes IPO at rs 450

Reliance Power which received an overwhelming response to its initial IPO fixed its issue price at Rs 450 per share while retail investors price band will beRs 430. Addressing a press conference Chairman of Anil Dhirubhai Ambani Group Mr Anil Ambani said the shares of Reliance Power would be listed on Stock exchanges in early February. He was satisfied and overwhelmed with the response Ipo received over the recent meltdown in Indian and International share markets.

He also elaborated the Record subscription money which was deposited in the banks was at Rs 115000 crores. Without naming any he also said all big investors all over the world have invested in the IPO.

He said all the retail investors who oversubscribed the IPO to the tune of 14.4 times would be issued shares.