Reliance Power is making sure it is all powered with its IPO that opens tomorrow. If you get your lunch box delivered by a dabbawalla in Mumbai, chances are you also received an IPO application from Reliance Power. The company has roped in dabawallas to get retail investors to buy, reports CNBC-TV18.
The IPO seems to have more people opening Demat accounts. Leading brokerages say the number of applications they have received has increased from an average of 500-600 per month to 3,000 applications already this month.
Meanwhile, the issue is being pushed using innovative ways. CNBC-TV18’s Pooja Meswani tells us how dabbawalas have been roped to deliver IPO forms along with your lunch.
On offer with your dabba is an IPO form, a demat account form and a host of financial products, delivered by the world-renowned Mumbai dabbawalah. With the much-awaited IPO- Reliance Power - hitting the bourses soon, financial services company Reliance Money is not sparing any effort to make this IPO more appetizing. It has tied-up with the Dabbawalla Association of Mumbai to ensure delivery of its list of services to its 1.6 lakh professional clientele, who order dabba food everyday. Anil Dhirubhai Ambani Group has also started cross promotion, by setting a Reliance Power ringtone on Reliance mobiles, for those who have not subscribed for a specific one.
“The idea is to reach out to a maximum number of people. Reaching out to the age group 24-40 makes a profitable business proposition,” said Sudeep Bandopadhyay, MD and Director, Reliance Money.
That is not all. As the market awaits the two big IPOs- Reliance Power and Future Cap Holdings, brokers and distributors are working round the clock to service eager investors.
Data from depositories shows nearly 2 lakh demat accounts have been opened in the first 10 days of January itself. Leading brokerages like Angel Broking, Motilal Oswal, Kotak Securities and Edelweiss receive as many as 5,000 to 6000 applications a day, compared to the 500-600 forms on an average.
To lure clients, brokers are offering free trading accounts, along with gifts like gold & silver coins. Now that is what some may call a square meal.
Source: Moneycontrol.com
Tuesday, January 15, 2008
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