Reliance Power IPO allotment over

Mumbai, Feb 1 (UNI) Reliance Power today announced the allotment of shares pursuant to the IPO, the largest in the Indian capital market history, receiving over five million bids with commitment of Rs 750,000 crore.

Reliance Power in a release issued here said that there are approximately 4.2 million shareholders and the Company has commenced refund of excess application money today.

The Company said that as many as 4,50,000 retail applicants who had applied for less than 225 shares had not got any share. However, successful applicants would get 15 shares each.

QIB portion over subscribed 82.5 times: 446 domestic and international investors to get approximately 1.2 per cent of their applied quantity of shares. The Company said that Non-Institutional Investors' portion over subscribed 159.6 times: about 12,000 investors to get approximately 0.6 per cent of their applied quantity of shares.

The allotment and refund exercise post closure of the IPO has been carried out in a record short time of 10 working days considering that this IPO was by far the largest in the history of Indian capital markets.

Reliance Power IPO attracted over five million bids from all categories of domestic and international investors with aggregate commitment of over Rs 7,50,000 crore, as against the Issue size of Rs 11,560 crore.

Thirty per cent of the Net Issue reserved for retail investors was over subscribed 13.6 times. Retail investors have been issued shares at a discount of Rs 20 that is at Rs 430 per share. Over 41.7 lakh successful bidders in the retail category would get approximately 15 shares each.

The excess application money of approximately Rs one lakh crore received from the investors is being refunded to the investors.

UNI VK NM VKG1718