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MUMBAI: Promoters Anil Dhirubhai Ambani and Reliance Energy have brought in their (promoters) contribution of Rs 1,440 crore at Rs 450 per share, a day prior to the opening of Reliance Power initial public offer.
The subscription price for these shares has been determined at the upper end of the price band of Rs 405-450 per share. The issue opens for public subscription on Tuesday, and will close on January 18.
The Reliance Power IPO is expected to raise Rs 10,700 crore-11,700 crore, with a net issue to the public of 228 million shares. The total issue size is of 260 million shares, including the promoters' contribution of 32 million shares.
The issue has been rated 4/5 by CRISIL and ICRA, indicating above average fundamentals. Source : economictimes.indiatimes.com |
