The deal, sources say, is that the retail investor, subscribing on broker's behalf, would have to make an application for 225 shares, the entire cost of which -- considering the discount of Rs 20 a share that RPL has offered -- would come to Rs 96,750.
The company emerged successful in the revised evaluated bids for the project.
Reliance Power's exemption demands prompt move.
The proposed Krishnapatnam ultra mega power project - the third 4,000 Mw project to go under the government's hammer - has attracted just three bids from Sterlite, Reliance Power and Larsen & Toubro, though there were nine qualified bidders for the project.Those who have not bid after expressing an interest include Essar Power, NTPC, Japan's Sumitomo Corporation, China Light and Power (with GMR) Israel Electric Company (with DS Construction) and Tata Power.
Power Finance Corporation, the nodal agency for ultra mega power projects, has extended the last date for accepting bids for Krishnapatnam project to October 24, sources said. Essar Power, Sterlite Industries, Larsen and Toubro, D S Construction, Japan's Sumitomo Corp and CLP-GMR combine are other companies believed to be in the qualified bidders list.
Apart from signalling the shape of things to come, the stock markets are seen as an important source of funds for investment - so their health can be critical.
A severe squeeze in liquidity in the domestic and the global markets over the last one week helped bears to make a killing on Monday, as they anticipated little buying support even at lower levels, said dealers.
"It is a reflection of world community in the future of India... Investors seem to be confident in the future of Indian economy," Chidambaram told PTI on IPO that hit the market this morning for mopping upto Rs 11,700 crore (Rs 117 billion). Not only the IPO was fully subscribed within a minute of opening, it generated demand worth over Rs 50,000 crore (Rs 500 billion) in less than two hours.
Demat accountholders make the most of demand for RPL IPO.
Power sector stocks have recently emerged as market favourites, evoking memories of the information technology and pharmaceutical booms of a few years ago and the real estate sector more recently.
Reliance Power is being touted as India's biggest ever IPO with an estimated size of over $3 billion, surpassing just over $2 billion raised by DLF. This would be the first ever IPO from Anil Ambani group after being carved out from the erstwhile Reliance empire in 2005.
The global economic downturn made 2008 an unforgettable year.
The group has earmarked over Rs 4,000 crore (Rs 40 billion) to acquire coal mines in foreign countries.
Amid protests against acquisition of farmers' land, work on the Reliance power plant at Dadri in Uttar Pradesh will start from Thursday.
Reliance Power Limited, the flagship company of the Reliance Anil Dhirubhai Ambani Group (ADAG), plans to invest about Rs 2,500-3,000 crore (Rs 25-30 billion) over a period of three years, to develop three coal mines to fuel its Sasan Ultra Mega Power Project in Madhya Pradesh. Reliance Power currently has access to coal reserves of about one billion tonnes in India and abroad, including a coal mine in Indonesia, which it acquired recently.
Without doubt, bears have raided. We try to fathom what further damage could they cause, for how long and how to cope with it.
The big flops of the year -- Reliance Power and Future Capital Holdings -- are currently available at 25 per cent below their issue price. The other major post-listing losers include BGR Energy, Shriram EPC, J Kumar Infraprojects and KNR Constructions. Among the smaller issues, Precision Pipes and Profiles, Manaksia, and Porwal Auto Components are currently available at 50 per cent below their issue prices.
Anil Dhirubhai Ambani Group (ADAG) company, the Rs 6,576-crore Reliance Energy (REL) on Wednesday announced that it would buy back its shares through open market purchases at a maximum price of Rs 1,600 per share.
The move comes just two days after Reliance Power, another group company in which REL owns 45 per cent, offered bonus shares to its shareholders in the ratio of 3:5.
According to dealers in the know, the Reliance Power IPO had generated deals worth Rs 2,500 crore (Rs 25 billion) in the grey market, of which nearly 90 per cent were settled till Wednesday. However, with the Reliance Power stock now struggling even to close above the Rs 350 level against the issue price of Rs 450 after three days of listing, some of the clients are refusing to pay, according to sources.
It isn't altogether clear why we get cheerier as death draws closer
Initial public offerings and the profits made from it has been a hot topic of discussion in recent weeks. Here's a look at what you must know before applying for that 'hot' IPO.
Realty major Emaar MGF on Monday said it will enter the capital market to mop up anywhere between $1.58 to 1.79 billion through issue of 10.25 crore (102.5 million) equity shares in the price band between Rs 610-690.
The Anil Dhirubhai Ambani Group, which is raising Rs 11,700 crore through the public offer of Reliance Power, has seen a value erosion of Rs 48,000 crore in the last seven days.
In anticipation of the IPOs of FCH and RPL, investors were seen off loading small and mid-cap stocks heavily.
The country's biggest IPO will close on January 18.
The Sebi order clears the hurdles ahead of the mega IPO of $2.5 billion to $3 billion, which is expected to hit the markets early next year.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
The trading has come to a halt on speculations that the company's IPO is unlikely to hit the market by the second week of December.
Sasan among 5 companies with mega-plans for region.
Core concerns in 5 villages that cover India's largest power plant.
Referring to the Central Bureau of Investigations probe ordered into his family assets, Yadav alleged Congress president Sonia Gandhi and Union Home Minister Shivraj Patil were after him.
More asset sales may be only way out, though most of the group companies' ratings have been downgraded and their combined market value is now a fraction of their combined debt.
One of the main factors that created a big hype for the R-Power initial public offer, said experts, was its grey market premium of over Rs 400 on January 18 -- the day the issue closed. R-Power collected a record $180 billion (Rs 710,000 crore or Rs 7,100 billion) as the issue was subscribed 72 times.
Reliance Power, which is hitting the market next week with an offering of nearly Rs 12,000 crore (Rs 120 billion), will set the trend for a slew of power IPOs from other companies including Sterlite Energy (Rs 4,000-8,000 crore or Rs 40 to Rs 80 billion), JSW Energy (Rs 4,000 crore or Rs 40 billion), JP Associates (Rs 4,000 crore or Rs 40 billion) which have already announced big share offer plans.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Analysts attribute this outperformance to the government's proactive economic reform measures
The Uttar Pradesh government claimed on Friday it had not acquired any land at Dadri in Ghaziabad district even as opposition members staged a walkout from the Assembly on the Reliance power project issue.
As debt piles up, Anil Ambani's ability to see the asset sale plan through will be crucial
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
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