Anil Ambani's Reliance Power has got 4.3 million investors after its larget IPO in Indian capital market history subscription. But each investor, who has applied for the issue, will get only 15 shares each in IPO.
4 lakh investors, who has applied for less than 225 shares, will not get any allotment. 3 lakh applications disqualified.
Share allocation process will end on Thursday. Excess share application money refund will begin on Friday.
Reliance Power, Anil Dhirubhai Ambani Group Company, had come out with an IPO of 22.8 crore shares with face value of Rs 10 each at a price band of Rs 405-450. Its issue had received an excellent response and subscribed 73.04 times and received bids worth about Rs 7.5 lakh crore.
The reserve portion of QIBs subscribed 83 times and non institutional investors 190 times and retail nearly 15 times.
7 lakh application rejected/disqualified. Unfair of RPower. Now really need some power :-)
Hey ajyay i am notliying man.. i have applied for FCH and relpow. in my demant allocation i can see NA 8 and NA 20. 8 for FCH and i guess 20 is RELPOW as i dint apply for any other ipo
As per the news the allotment has been done only for those who have applied for 225 shares category only as seen in CNBC TV. If this news item is true, then why the hell the applications are invited even for 15 shares and in lots of 15 shares The applications could have been limited only minimum 225 shares. I think it is high time the retail and small investors are taken for a ride. concerned authorities should look into this and find why allotment is given only for 225 and above cateogry and why small and retail portion those who applied for less than 225 shares are left out
Reliance Power Limited IPO Allotment today. 15 Shares for the application of Rs 96750 or Rs 25875 (maximum) in the retail category. No shares will be alloted to those who applied less then Rs 96750 or Rs 25875 (maximum) in the retail category. Reliance Power received 49 lakh applications. Around 4 lakh applications has been disqualified, due to several reasons. Refund process will start from 1 feb. Listing will take place around 5 feb.
Reliance Power Limited IPO Allotment today. 15 Shares for the application of Rs 96750 or Rs 25875 (maximum) in the retail category. No shares will be alloted to those who applied less then Rs 96750 or Rs 25875 (maximum) in the retail category. Reliance Power received 49 lakh applications. Around 4 lakh applications has been disqualified, due to several reasons. Refund process will start from 1 feb. Listing will take place around 5 feb.