The initial public offer of Reliance Power, Anil Dhirubhai Ambani Group Company, has been receiving excellent response since day one despite negative sentiment in markets as well as across the globe. The issue subscribed 68.81 times and received bids worth about Rs 7.06 lakh crore.
QIBs reserved portion subscribed nearly 80 times, non institutional investors 200 times and retail 15 times.
The issue received bids for 15.7 billion equity shares as against 22.8 crore shares on offer.
The price band is between Rs 405-450 per share. The company is likely to raise more than Rs 10000 crore from this public issue excluding promoters' contribution.
Till yesterday, Reliance Power received over 22 lakh retail applications for its public issue.
