Reliance Power Limited REPL IPO

Reliance Power Limited (REPL), a Reliance Anil Dhirubhai Ambani (ADA) Group company is in the business of developing, constructing and operating power projects. The Reliance ADA group is one of the biggest business group in India involve in business like telecommunications (Reliance Communications), financial services (Reliance Capital), media and entertainment (Adlabs Films), infrastructure, energy (Reliance Energy REL, Reliance natural resources RNRL, Reliance Energy Transmission and Reliance Energy Trading) and other sectors.
Reliance Power Limited is currently developing 13 medium and large sized power projects with a combined planned installed capacity of 28,200 MW across various geographic locations in India. First project of Reliance Power is expected to go onstream in 2009. Company intend to sell the power generated by these projects under a combination of long-term and short-term PPAs to state-owned and private distribution companies and industrial consumers.
CRISIL IPO Grade:
Reliance Power Limited IPO has been graded by CRISIL Limited as CRISIL IPO GRADE 4/5, indicating that the fundamentals of the issue are above average, in relation to other listed equity securities in India and by ICRA Limited as ICRA IPO Grade 4, indicating above average fundamentals.
Objects of the Issue:
The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital to
Fund subsidiaries to part-finance the construction and development costs of certain of 12 power generation projects currently under various stages of development.
General corporate purposes.
Achieve the benefits of listing on the Stock Exchanges.
Reliance Power Limited IPO Information
»» Public Issue Open : January 15, 2008 to January 18, 2008 »» Public Issue Type : 100% Book Built Issue (Initial Public Offer IPO) »» Public Issue Size: 260,000,000 Equity Shares of Rs. 10/- each (228,000,000 for public) »» Public Issue Price: Rs. 405/- to Rs. 450/- Per Equity Share »» Retail Discount: Rs. 20/- Per Equity Share (Only for Retail Individual Bidders) »» Payment Methods: 1. Partial payment option - Rs. 115/- Per Equity Share at the time of bidding 2. Full payment option - Rs. 405/- to Rs. 450/- Per Equity Share »» Market Lot: 15 Shares »» Minimum Order Quantity: 15 Shares »» Maximum Subscription Amount for Retail Investor: Rs 100,000/- »» Listing At: BSE, NSE »» Lead Manager(s): Kotak, UBS, ABN AMRO, Deutsche, Enam, ICICI Securities, JM Financial and J.P. Morgan. »» Registrar : Karvy Computershare Pvt Ltd (Ph: 040 2342 0815/ 0816 Email: reliancepower.ipo@karvy.com)
IPO Alert News: Reliance Power Ltd declared 3 bonus shares for every 5 shares held
Date: Sunday February 24, 2008Reliance Power Ltd declared 3 bonus shares for every 5 shares held.The bonus issue will bring the cost of per Reliance Power ltd share for retail investors to Rs 269 (earlier Rs 430) and for others to Rs 281 (earlier Rs 450).The expected ex-bonus share price would be around Rs 300, if the market situation remains same as current market.``I have been personally concerned by the notional losses arising to millions of our investors as a result of a dramatic adverse change in sentiment in global and domestic capital market after the pricing of our IPO,'' Ambani said. ``The board endorsed my concern and approved the bonus issue.'' Company needs approval from its shareholders before sending the bonus issue detail to stock exchanges to fix record date.Once record date has been declared, all the investors holding shares on that date, would be entitled to receive bonus shares.