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Reliance Power, part of the Reliance Anil Dhirubhai Ambani Group, will accept bids for its Initial Public Offering till 1500 hrs IST. 
GOOD GOING: Anil Ambani's company will use the funds to build power generation units. However, the timings could be also extended. But to be on the safer side an applicant should apply as soon as possible so that the application is accepted. The IPO was for 228 million shares at a price band of Rs 405-450 with a face value of Rs 10 each. It has already been oversubscribed 47 times. The Qualified Institutional Buyers oversubscribed the IPO by 65 times. While the retail investors have subscribed the issue nine times over with 22 lakh applications. Till noon on Friday, the IPO received bids worth over Rs 5 lakh crore. The final subscription numbers will only come in by 2300 hrs IST. The company will use the funds to build power generation units with officials saying projects worth 28,000 MW are already in the pipeline. Source : IBNLIVE.COM |
