In an unprecedented move, Anil Ambani Group company Reliance Powerwill give free bonus shares to all its shareholders to compensate thelosses they suffered when the company was listed a week ago.
"Reliance Power board will consider issuing free bonus shares to allshareholders excluding the promoters," a group spokesperson said.
On the day of its listing at Rs 547.8 a share, Reliance Powerperformed miserably at the stock exchanges and closed the day nearly32 per cent lower.
The IPO had attracted a total demand of about Rs 7,50,000 crore andthe company had issued the shares at Rs 450 while giving a discount Rs20 a share to retail investors.
Monday, February 18, 2008
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