Reliance IPO heavily oversubscribed

Lazell, Mark
May 2006
ICIS Chemical Business;5/1/2006, Vol. 1 Issue 17, p12
Trade Publication
The article reports that Reliance Petroleum's initial public offering was 50 times oversubscribed when it closed on April 20, 2006. The retail offer attracted bids worth Rupee 13bn and the company received applications for more than 22.26 billion shares. Oil major Chevron will be a more significant partner in Reliance Industries Limited's (RIL) new refinery and polypropylene spin-off than initial shareholdings imply. Chevron will be a co-promoter alongside RIL of Reliance Petroleum Limited.


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