Reliance Power generates record demand of over Rs 7.5 lakh cr

Mumbai, Jan 18 (UNI) The largest-ever initial public offering (IPO) in Indian equity market, Reliance Power IPO, generated a record demand of over Rs 7.5 lakh crore today before closing.

The issue subscribed 72.58 times and received bids worth about Rs 7.5 lakh crore. It received bids for 1,655 crore equity shares as against the net issue of 22.8 crore shares that were on offer. The previous highest demand was for the Mundra Port SEZ issue at Rs 2,03,708 crore, sources said.

Qualified Institutional bidders reserved portion was subscribed nearly 80 times, non-institutional investors 200 times and retail investors over 15 times.

The Company had offered equity shares at a fixed price band between Rs 405-450 per share. The issue had opened on January 15 and closed today. The total size of the IPO is 26 crore shares, including promoters' contribution of 3.2 crore shares.

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