Reliance Power Drops on Bombay Stock Exchange Debut

Filed under Anil Ambani - Reliance Energy

February 11, 2008 1:39 pm

Reliance Power Ltd., the company that raised $3 billion in India’s biggest initial public offering, fell as much as 21 percent on debut as a global equities sell-off dried up appetite for new shares. The unit of Reliance Energy Ltd., controlled by billionaire Anil Ambani, fell to 355.05 rupees on the Bombay Stock Exchange, from the 450 rupees at which the stock was sold in the IPO last month. The stock closed 17 percent lower at 372.5 rupees.

read the rest published by Bloomberg here:

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=acdj_3aNPScE

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Reliance Power Drops on Bombay Stock Exchange Debut

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