ENAM leading mobiliser in Reliance Power IPO

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Mumbai, Jan 21 (UNI) The Anil Ambani group firm Reliance Power's Initial Public offering (IPO) has set a record of sorts in the primary market, attracting bids for shares worth over 7.5 lakh crore. In the process, Enam Securities has emerged as one of the leading procurers in the Reliance Power IPO book.

It has collected about USD 32 billion of the total money with a share of 25.20 per cent. JM Financial was in the second spot with its share at 24.31 per cent with USD 30.9 billion followed by Kotak Mahindra Capital's share at 12.30 per cent with USD 15.64 billion, a release said.

The largest IPO in terms of money being raised, at Rs 11,700 crore, drew a phenomenal response from both institutional and retail investors by taking the subscription count to 73 times the 22.8 crore shares on offer. Corporates and the high net worth individuals bids reached 190 times for 2.28 crore shares on offer.

The portion reserved for qualified institutional buyers including Foreign Institutional Investors (FII's) (13.68 crore shares) got subscribed to 82 times. Retail individual investors bid 14.4 times the 6.84 crore shares offered under the retail quota.

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