The news of reliance power IPO had spread like fire.
This was the period when people were dying to buy these shares.
There were many people who took loans,borrowed from friends etc… to buy hese shares.
It was the largest IPO in Indian history with a value of Rs.11,560 crore.
It consisted of 2 catogeries of share, 1 for the retailers for Rs430 & the others had it for Rs 450.
The bid had opened on 15th of january and within fraction of seconds the share was oversubscribed 2 times.
The fund collected on the first day had reached 1 Lakh Crores.
And within 3 days it had reached the peak with the collection of Rs 7.5 Lakh Crores.
The result was that the shares =were subscribed 73 times from 50 lakh applicants.