Reliance Power IPO | Indian institutions outbid foreign investors

The Anil Ambani-controlled Reliance Power Ltd’s public float that saw subscriptions of $190 billion has the who’s who of international investors putting in bids for the company’s shares. According to a source close to the development, foreign institutional investors (FIIs) accounted for nearly half the demand for the issue. FIIs such as Deutche Bank, UBS Securities, ABN-Amro Securities, Macquarie Securities and Merrill Lynch have put in bids ranging from $13.9 billion to $1 billion for shares on offer to institutions. The George Soros-controlled Quantum Fund is said to have put in a bid of $1.6 billion.

Mint
http://www.livemint.com/2008/01/20190149/
Reliance-Power-IPO----Indian.html

Rel Power IPO to make Anil richest Indian

Reliance Power Ltd's IPO, the country's biggest, has helped the promoter Anil Ambani whiz past elder brother Mukesh and NRI tycoon Lakshmi Mittal at the top of India's richie-rich club, with his wealth soaring to more than 60 billion dollars. As per a list of richest Indians put out by renowned business magazine Forbes late last year, Mittal and Mukesh Ambani were ranked at the top two positions, followed by Anil at the third position.

The Financial Express
http://www.financialexpress.com/news/
Rel-Power-IPO-to-make-Anil-richest-Indian/263561/

Reliance Power IPO subscribed 72.58 times

The initial public offer (IPO) of Reliance Power Ltd (RPL), which closed for subscription on Friday, received overwhelming response from the investor community. The issue was subscribed 72.58 times with the total number of bids received standing at 1,654.80 crore-equity shares against the issue size of 22.80 crore-equity shares as per the National Stock Exchange (NSE) demand graph. The total bids received at the cut-off price were 87.31 crore-equity shares.

The Financial Express
http://www.financialexpress.com/news/
Reliance-Power-IPO-subscribed-72-58-times/263146/

Reliance Power IPO beats expectations

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

India's 2008 equity mop-up seen at Rs 75000 crore

Indian companies are expected to raise about Rs 75000 from the primary market through issue of equity shares in 2008, Prime Database said on Monday. Of this, about Rs 60000 crore would be through initial public offers (IPOs) and the balance from follow-on issues, the primary market monitoring firm said. It expects 150-175 public issues to hit the market this year.

The Economic Times
http://economictimes.indiatimes.com/Market_News/
08_equity_mop-up_seen_at_Rs_75K_cr/
articleshow/2680147.cms