Behind every billionaire there is a story!

Investors Flock to India’s Biggest IPO

Indian billionaire Anil Ambani’s Reliance Power raised $3 billion within a minute when the country’s biggest initial public offering was fully subscribed on Tuesday as investors flock to new issues in the booming economy.

Reliance Power received offers for four times the amount it sought to raise in half an hour, with most bids at 450 rupees ($11.50), the top end of the IPO’s price band, National Stock Exchange data showed. The founders have bought 32 million shares at 450 rupees, while 228 million shares have been offered to the public.

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http://www.cnbc.com/id/22661496/site/14081545