Retail investors get discount in Reliance Power IPO

Reliance Power is eyeing a mop up of Rs 10,530-11,700 crore at the lower and upper price band of the mega initial public offering.
The 26-crore equity IPO opens between Jan 15-18 in the price band Rs 405-450 per share of face value Rs 10 each. Retail investors will get a discount of Rs 20 per share on the issue price which will be decided through book building process. However, the public offer is only for 30 per cent of the issue.
The company will not be making a pre-IPO placement, said Anil Ambani, chairman of Reliance Power at a press meet here. The company expects to list by the first week of February, he said. Net issue would constitute 10.1 per cent of the post-issue paid up capital. Outstanding shares post issue will be 226 crore equity shares.