Rel Power IPO opens on Jan 15

Rel Power IPO opens on Jan 15
Moneycontrol.com

Reliance Power today filed the red herring prospectus (RHP) with the Registrar of Companies, Maharshtra, Mumbai (ROC), for its proposed initial public offering (IPO).

Reliance Power has fixed the price band for the IPO at Rs 405 - 450 per share. To enable large participation by retail investors, Reliance Power will offer a discount of Rs 20 per share to the retail investors, i.e. approximately 5% of the issue price. Reliance Power has also fixed convenient payment terms for all categories of investors. While QIBs are required to pay 10% on the application, the HNIs and retail investors will have the option to pay Rs 115 on the application, i.e. only approximately 25% of the issue price. The balance amount will be payable on allotment. The IPO is scheduled to open on January 15, 2008 and will close on January 18, 2008. Reliance Power, through this IPO proposes to raise approximately Rs 10,500 - 11,500 crores - the largest IPO in the history of the Indian capital markets.

Reliance Power proposes to issue 26 crore equity shares of Rs 10 each including a promoters’ contribution of 3.2 crore Equity Shares which shall be allotted at the IPO price to the Promoters. The balance 22.8 crore equity shares would constitute the net issue to the public. The issue will constitute 11.5% and the net issue will constitute 10.1% of the post-Issue paid-up equity capital of Reliance Power.

Reliance Power is part of the Reliance Anil Dhirubhai Ambani group and is currently engaged in the construction and development of various gas and coal based thermal power projects and hydro power projects in various parts of the country, of over 28,000 MW capacity - the largest development pipeline in the country.

The issue proceeds are proposed to be utilized for funding subsidiaries to part-finance the construction and development costs of the various projects under development and for general corporate purposes. The equity shares of the company are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.

Kotak Mahindra Capital Company Limited, UBS Securities India Private Limited, ABN AMRO Securities (India) Private Limited, Deutsche Equities India Private Limited, Enam Securities Private Limited, ICICI Securities Limited, JM Financial Consultants Private Limited and J.P. Morgan India Private Limited are acting as the Book Running Lead Managers to the Issue whilst Macquarie India Advisory Services Private Limited and SBI Capital Markets Limited are acting as Co-Book Running Lead Managers. Amarchand & Mangaldas & Suresh A. Shroff & Co. is advising the Company whilst Cleary Gottlieb Steen & Hamilton and J. Sagar and Associates are advising the BRLMs and CBRLMs in relation to the issue.

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Reliance Power IPO opening on Jan 15th 2008
Rupya.com

Issue Details
Reliance Power to issue 26 crore equity shares of Rs 10 each

Issue Contribution :>Promoters’ contribution of 3.2 crore Equity Shares which shall be allotted at the IPO price to the Promoters.
>The balance 22.8 crore equity shares would constitute the net issue to the public.
>The issue will constitute 11.5% and the net issue will constitute 10.1% of the post-Issue paid-up equity capital of Reliance Power.

Issue Price :Reliance Power has fixed the price band for the IPO at Rs 405 - 450 per share.For Retailers we can apply at 430 rs ,which is approximately less by 5% of theissue price.so we get at discounted rate by 20 rs.

Payment Option : Reliance Power has also fixed convenient payment terms for all categories of investors. While QIBs are required to pay 10% on the application, the HNIs and retail investors will have the option to pay Rs 115 on the application, i.e. only approximately 25% of the issue price. The balance amount will be payable on allotment.

Issue Date :The IPO is scheduled to open on January 15, 2008 and will close on January 18, 2008.

Other related articles:
Rel Power IPO opens Jan 15; eyes Rs 115 bn



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