RPL to list on bourses in May

Reliance Petroleum Ltd, the subsidiary of Mukesh Ambani-owned Reliance Industries, plans to list on the stock exchanges in the first half of May.

Listing is expected to be between May 5-10. The company, whose public issue is priced at Rs 57-62, is likely to be among the top 30 companies on the bourses in terms of market capitalisation.

If the share lists at Rs 62, the company's market cap will be close to Rs 30,000 crore (Rs 300 billion).

The IPO opens on THursday and closes on April 20, an RIL official said.

The public issue comprises 135 crore (1.35 billion) shares, of which RIL would subscribe to 90 crore (900 million) shares and the balance would be offered to the public.

Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group