Power on. India on. That’s the ad slogan for Reliance Power. On Tuesday, as India’s largest initial public offer received an overwhelming response on day one of subscription, it seemed to be a case of ‘Reliance Power on, Dalal Street off’. The 22.85 crore share mega issue, looking to raise roughly Rs 11,000 crore, was fully subscribed under a minute of the start of bidding, making you wonder if there were any early-bird prizes on offer. At last count, bids for more than 10.5 times the issue size had been received.
The Economic Times
http://economictimes.indiatimes.com/
Reliance_Power_IPO_beats_expectations/
articleshow/2703391.cms
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