Investors Bid Up Reliance Power IPO

Tippu, Sufia
January 2008
Red Herring;1/15/2008, p6
Trade Publication
This article reveals that an initial public offering (IPO) by Reliance Power, has attracted $27.5 billion worth of bids on its opening day on January 8, 2008. Its IPO was overscribed 10.5 times. Proceeds from the IPO deal will be used by Reliance Power to build power plants across India. According to Emkay Research, it is difficult to accurately value the company because it has no operational power assets. In 2007, several Indian companies were able to raise $8 billion from IPO, says Thomson Financial.


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