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RPL at Rs 101.95 per share with 70 pc premium

Written by: Staff
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Mumbai, May 11: Reliance Petroleum Limited (RPL) was listed today on the stock markets opening at Rs 101.95 as against the fixed issue price of Rs 60 for every Rs 10 share.

The grand listing today was marked by Mr Mukesh Ambani striking the gong at 0954 hrs in the central hall of the Bombay Stock Exchange (BSE) here which marked the opening of the much-awaited trading in RPL shares on the Bombay Stock Exchange (BSE).

RPL opened at Rs 101.95 with a premium of Rs 41.95 or 70 per cent approximately on the BSE.

''The RPL listing added very close to US dollar 10 billion to the stock markets wealth with the Company's value being estimated at USD 10 billion,'' said J M Morgan Stanley, India chief, Nimesh Kampany but cautioned investors about risk involved at this high level in stock markets.

''RPL lisiting was being keenly watched in New York and no one had doubts about RPL doing well with Reliance known for executing projects of vast size and scale,'' said Sanjay Nayar, CEO, Citi Group.

UNI

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