Each share of Reliance Power has been priced at Rs 405 at the lower end and Rs 450 at the upper end of the band. The company plans to offer the retail investors or those applying for Rs 1 lakh, a 5 per cent discount.
Reliance Power IPO would raise between Rs 10,500 crore to Rs 11,700 crore with the sale of 26 crore shares in the public offer.
Rating agency Crisil assigned an above average 4-on-5 rating to the proposed initial public offer of Reliance Power.
Bankers to the Reliance Power initial public offering issue include ABN Amro Rothschild, Deutsche Bank AG, Enam Securities Pvt., ICICI Securities Ltd., JM Financial Consultants Pvt., JPMorgan Chase & Co., Kotak Mahindra Capital Co. and UBS AG.
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