RPL IPO oversubscribed

Mumbai, Apr 13 (UNI) Within an hour of opening of the Reliance Petroleum Limited (RPL)'s initial public offer (IPO), the issue was oversubscribed two times.

The issue had been oversubscribed four times when last reported.

The investors in RPL IPO had diluted their investments elsewhere yesterday.

Today, the investors were also reinvesting in Reliance Industries Limited (RIL) which was rising despite the markets going down.

RIL was on fire touching a high of Rs 850.90 after opening at Rs 830.25 with a gain of Rs 20 per share.

RIL was trading 1.38 per cent up at Rs 840 with a gain of Rs 11.45 at 1141 hrs.

In contrast, major blue chips were in the red this morning and the benchmark index of the Bombay Stock Exchange (BSE) was down by 340 points at 11,015 points at 1205 hrs.

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