RCVL lists at Rs 290 on BSE, at Rs 298 on NSE

Mumbai, Mar 06: Anil Ambani owned Reliance Communications Venture Limited (RCVL) was today (Mar 06, 2006) listed on the stock markets.

On the Bombay Stock Exchange (BSE) RCVL was listed at Rs 298. It hit a high of Rs 309 immediately after listing.

On the National Stock Exchange(NSE) RCVL was listed at Rs298 and it a high of Rs 307 immediately.

Over 1.4 crore shares were traded on the BSE/NSE soon after listing.

Chairman of the Anil Ambani Enterprise Anil Ambani was present on the BSE to hammer on the listing on the stock markets.

''The stock would have listed higher had the foreign institutional investors (FIIs) been allowed to buy the stock,'' said a top stock analyst.

FIIs are not allowed to buy in RCVL right now.

Anil Ambani as promoter holds 37 per cent share of RCVL and rest 63 per cent are held by the public.

RCVL is the last of the four companies to be listed on the bourses after their transfer to Anil Ambani as result of their demerger from Mukesh Ambani owned Reliance Industries Limited.

UNI