Reliance Power, part of the Reliance Anil Dhirubhai Ambani group which recently completed its Initial Public Offering (IPO) has completed the allotment of shares to successful investors, as per the basis of allotment approved by the Stock Exchange.
30% of the Net Issue reserved for Retail investors was oversubscribed 13.6 times. Retail investors have been issued shares at a discount of Rs. 20 i.e. at Rs. 430 per Share. Over 41.7 lakh successful bidders in the retail category will get approximately 16 shares each while approximately 4.5 lakh retail investors who bid for less than 225 shares would not get any shares according to the allocation as approved.
The excess application money of approximately Rs one lakh crore received from the investors is being refunded to the investors.
The excess application money of approximately Rs one lakh crore received from the investors is being refunded to the investors.
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