Reliance Power IPO created history on Friday
The Anil Ambani-owned Reliance Power created history on Friday when the company’s initial public offering (IPO) attracted cumulative bids worth, hold your breath, Rs 7,52,000 crore (around $180 billion).
The IPO received maximum response on the last day compared to the first three days, with the subscription count racing from 24 times as late as 9 p.m. on day three to over 72 times by 6 p.m. on friday.
On the evidence so far, it is clear that there has been surge in investor response on the last day compared to the earlier three days.
In terms of number of applications Reliance Power IPO has set a new record. It received ever nearly 31 lakh applications by the end of day three, the highest ever, according sources in the merchant banking industry handling the IPO.
The IPO has generated demand for Rs 7,52,000 crore – a new record as per data available till 5 p.m.
The previous highest demand was for the Mundra Port SEZ issue at Rs 2,03,708 crore.
The qualified institutional bidders (QIB) segment was subscribed over 80 times and high net worth investors portion 22 times.