Reliance Power IPO Subscription Start to be delayed

November 26, 2007

Reliance Power IPO which has filed its DRHP with SEBI for an IPO of 130 crore shares to the public at a price of Rs. 2 each for an estimated issue amount to be raised around 12,000 crore through the public offering.

According to the recent news in the markets the company has to change from the existing Rs.2 per share face value offer, to Rs. 10 per share face value because of SEBI , as the market regular has not accepted the initial proposal draft of the Reliance Power IPO. If that is the case then the Reliance Power IPO will be delayed a bit and the market sources are in a view that the Reliance Power date would be around the 2nd week of Jaunuary 2008 as the company has to change the DRHP according to SEBI’s requirements and re submit again. It is not yet clearly confirmed and is only a news report.

Initially the estimates were the Reliance Power IPO price would be in the range of Rs. 50 to 80 if it were been a Rs.2 face value per share, but if the company has to change according to the current news to a Rs. 10 per face value share offer then the Reliance Power Pricing would be around Rs 400 to Rs. 500 zone.

For regular updates on Reliance Power IPO Date and Subscription details, do visit iponewsdaily.com regularly.

Posted in IPO-Subscription, Indian IPOs