Details of the Reliance Power IPO as obtained from our sources in BRLM.
Issue opens on: January 15, 2008
Issue closes on: January 18, 2008
Price Band: Rs. 405 to Rs. 450 per equity share.
Issue Size: 130 crore equity shares of Rs.10 each, by 100% book built issue. This size is 11.5% of the total equity of 1,130 crore equity shares.
Promoters’ Contribution: 16 crore equity shares of Rs.2 each to be subscribed by the Promoters at the same price as being offered to the public. Reliance Energy Ltd. (RIL) and AAA Projects Ventures Pvt. Ltd. (AAA) being the joint promoters would be subscribing 8 crore equity shares of Rs.2, each.
Net Public Issue – 114 crore equity shares of Rs.2 each, shall be offered to the public, by a book-built issue.
Promoters Stake – REL shall be holding 508 crore equity shares of Rs.2 each,being 44.95%, while AAA shall be holding 508 crore equity shares of Rs.2 each, being 44.95%. Remaining 114 crore shares of Rs.2 each being 10.10% shall be held with the public.
Payment Facility – There are two payment method. Method 1 allows 25% on application and remaining 75% on Due Date and available to Retail and Non-Institutional category. Method 2 asks for full payment on application, available to Retail and Non-Institutional. QIB category needs to pay 10% only with application.
Detailed analysis and Recommendation of the Reliance Power IPO will be posted once we get more details and questions answered from the management.