Reliance Power Stocks fall flat on its face on the first day of market listing 2

Amid tremendous expectations, Reliance Power Stocks or REPL stocks was listed in the Share market by Anil Ambani on Monday Feb. 11,2008. The listing price of the REPL shares was Rs 430 ( about Rs 20 less than the issue price of Rs 450). The REPL performed poorly right from the morning session of trade, disappointing the millions of investors who had in REPL stocks. The morning session saw desperate stock holders trying to gain marginal profits by selling off their shares. What shocked many was the price at which the stocks where listed (Rs 420). Many market experts expected the stocks to be listed at around Rs 550-600.