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Reliance Power to list on February 11
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Monday, February 4, 2008 |
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More news on the IPO front. Reliance Power will be listed on February 11 while Wockhardt has sought permission from regulators to extend the subscription period by a day.
R-Power, part of the Reliance Anil Dhirubhai Ambani Group, will debut on the stock exchanges, subject to all regulatory and other approvals.
According to a company release, the company has credited its shares to the demat accounts of the successful allottees in the IPO.
The equity shares will be listed on both the Bombay Stock Exchange and the National Stock Exchange.
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.
With around 42 lakh shareholders, Reliance Power will be the largest shareholder base company among the companies listed on the stock exchanges.
Meanwhile, it is learnt that Wockhardt Hospitals' request for extension is awaiting Sebi approval.
The issue is scheduled to close on February 5. It is believed the request is awaiting Sebi approval. (Bennett , Coleman & Co Ltd holds 1.55% of the post-public issue equity capital of Wockhardt Hospital)
Source : The Economic Times |
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posted by www.OnlineEquityCalls.com @ 10:08 PM  |
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Rel Power should list at around Rs 600: Tulsian
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of said that looking at the revival of sentiment in the secondary market, Reliance Power would probably get listed at a premium of Rs 150 over its issue price of Rs 450. So, it should list at about Rs 600. It is likely to get listed either on Friday or Monday. Excerpts from CNBC-TV18's exclusive interview with SP Tulsian: Q: At what price do you expect the Reliance Power IPO to list? What is your advice to those investors who have got the stock? A: Looking at the revival of sentiment in the secondary market, I feel it would probably get listed at a premium of Rs 150 over its issue price of Rs 450. So, it should list at about Rs 600. It is likely to get listed either on Friday or Monday. If it gets listed at around Rs 600, I see huge selling coming in from the HNI category because they are breaking even at Rs 145-150 levels. The HNI category had been subscribed 190 times but the final tally shows a subscription of 160 times. This means there was a withdrawal of 30 times from the HNI category. So, there will be selling pressure from that category. Since the retail category has received a discount of Rs 20, they may continue for sometime and remain invested in the issue. Overall, there will be selling pressure. Whatever price it gets listed, one would see the price softening by about Rs 50-75 from those levels, unless the whole quantity gets absorbed. Disclosures: I have no interest in any of the companies discussed. Source : MoneyControl |
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posted by www.OnlineEquityCalls.com @ 9:11 AM |
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India's Reliance Power says to list on Feb. 11
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India's Reliance Power Ltd, which raised a record $3 billion in an initial public offer last month, said on Monday it would list on the stock exchanges on Feb. 11, subject to regulatory approvals. The company, which had attracted bids worth $190 billion, priced its offer at the higher end of 450 rupees ($11.45) a share. It had offered 228 million shares to the public while another 32 million were bought by founders, also at 450 rupees a share. The shares would be listed on the Bombay Stock Exchange and National Stock Exchange, the firm said. Reliance Power plans to build power plants across India using funds raised by selling the 10.1 percent stake in the firm, which is 50-percent owned by utility Reliance Energy Ltd (RLEN.BO: Quote, Profile, Research). India suffers a huge power shortage with over 400 million of its billion-plus people having no access to electricity, according to the United Nations Human Development report. Analysts say Reliance Power's IPO sucked liquidity out of the market, contributing to a drop of 13 percent in the main BSE index in January. Indian companies are expected to raise $15.8 billion from 35 IPOs this year, almost twice as much as the record $8.3 billion in 2007, according to data from Thomson Financial. But last week, property developer Emaar MGF Land and healthcare services company Wockhardt Hospitals Ltd lowered their price bands for forthcoming offers due to volatility in the Indian markets. ($1 = 39.4 Indian rupees) (Reporting by Hiral Vora, Editing by Mark Williams) Source : reuters.com |
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posted by www.OnlineEquityCalls.com @ 9:09 AM |
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SP Tulsian
