Reliance Power, Anil Dhirubhai Ambani Group Company, has opened for subscription with an initial public offering of 22.8 crore shares at a price band of Rs 405-450 per share. The company is likely to raise more than Rs 10000 crore from this public issue excluding promoters' contribution. 

Public issue has subscribed 24.36 times and received bids worth about Rs 2.5 lakh crore.

Reliance Power received over 22 lakh retail applications for its public issue. QIBs reserved portion subscribed nearly 30.69 times followed by 9 times subscription in retail category and 34 times in HNIs category.

The issue received bids for 5.5 billion equity shares as against 22.8 crore shares on offer.

Source : news.moneycontrol.com