Reliance Power IPO fully subscribed at top end

Mumbai, Jan 15, 2008 : India's Reliance Power raised $3 billion in India's biggest-ever initial public offering on 15th January, with the sale fully subscribed within a minute and covered 2.5 times within 25 minutes of its opening.

Data from the National Stock Exchange showed that most bids for the 228 million shares on sale to the public were at the top end of the IPO price band at 450 rupees or $11.5 per share.

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