Reliance Power IPO Allotment Status: Finance Trading Times

Reliance Power IPO Allotment Status

After the review of the much awaited Reliance power IPO, here is the news about the allotment status of the reliance power ipo applications.

A total of 43 lakhs or 4.3 million applications were received from the investors by the so-far largest IPO in Indian capital market history subscription. But each investor, who has applied for the issue, will get only 15 shares each in IPO. The retail investors who had applied for the maximum available limit of 225 shares, will receive only 15 shares each. Interestingly, anyone who applied for less than 225 shares, or less than the available maximum limit, will NOT receive a single share.

In total, 4 lakh investors who have applied for less than 225 shares, will not get any allotment. Another 3 lakh applications were disqualified on the basis of incorrect applications or entries.

Share allocation process is underway and will end on Thursday. The good news is that excess share application money refund will begin on Friday. So people who have opted for ECS refund can expect the money to be credited to their bank accounts by this weekend.

As per the news: Reliance Power, Anil Dhirubhai Ambani Group Company, had come out with an IPO of 22.8 crore shares with face value of Rs 10 each at a price band of Rs 405-450. Its issue had received an excellent response and subscribed 73.04 times and received bids worth about Rs 7.5 lakh crore.

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The reserve portion of QIBs subscribed 83 times and non institutional investors 190 times and retail nearly 15 times.

The issue received bids for 16.65 billion equity shares as against 22.8 crore shares on offer.

The company raised nearly Rs 10260 crore from this public issue excluding promoters’ contribution. Wishing all the applicants and the investors who received the shares a very happy and profitable listing of the Reliance IPO shares on the IPO listing day.
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