Anil Dhirubhai Ambani Group’s first IPO, Reliance Power has set a record in primary market history. The issue received bids worth about Rs 7.5 lakh crore (nearly USD 188 billion) and subscribed 73.04 times, according to data available on the NSE website. It got bids for 16.65 billion equity shares as against 22.8 crore shares on offer.
Enam Securities, one of the book running lead managers for the issue, has become the top procurer in Reliance Power IPO book. It has collected about $ 32 billion of the total money, reports CNBC-TV18.
JM Financial, which topped the second spot in the money collection, whose share at 24.31% with $ 30.9 billion followed by Kotak Mahindra Capital share at 12.30% ($ 15.64 billion), Deutsche Equities at 10.93%($ 13.9 bn), UBS Securities share at 9.91% ($ 12.59 bn), ABN AMRO share at 9.12% ($ 11.6 bn) and JP Morgan at 5.09% ($ 6.47 bn).
Others are ICICI Securities, SBI Capital Markets and Macquarie India, whose share at 2.97% ($ 3.78 billion), 1.67% ($ 2.13 bn) and 0.96% ($ 1.22 bn), respectively.
LIC, Soros (Quantum), Merrill Lynch and JP Morgan have bid $ 1.6 billion worth of shares each.
Qualified institutional investors’ reserved portion of 60% subscribed 83 times followed by 15 times subscription in retail category. Non-institutional investors’ category got subscribed 190 times, which is as per analysts’ expectations.
The issue has broken the record set when Mukesh Ambani's Reliance Petroleum tapped the capital markets. The retail portion of the Reliance Power IPO has seen 45 lakh applications - more than double the 21 lakh applications garnered by the Reliance Petroleum IPOo's retail portion.
Source: Moneycontrol.com
Saturday, January 19, 2008
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