RPL public issue to be closed on April 20.

Surat, Apr 14 (UNI) Reliance Petroleum Limited's public issue of 135 crore equity shares of Rs10 each which had begun on April 13, will be closed on April 20, a company notification here today said.

The price band for the share issue has been set at Rs 57 to Rs 62.

The retail investors will have the option to buy only Rs 16 per share on application.

The issue is being made to part finance the Rs 27,000 crore export-oriented refinery being set up in a special economic zone in Jamnagar, in Gujarat.

The export oriented refinery will have a capacity to process 5,80,000 barrels per stream days making it the sixth largest refinery in the world.

As part of this project,RPL is also setting up a 9,00,000 tonne per annum polypropylene plant.

''The project is likely to go on stream by December 2008'', the notification said.

UNI MS PP AW1734