Reliance Power : A project from Anil DhiruBhai Ambani group was recently highly in media because of the issue of Reliance Power IPO which was announced to be India’s biggest IPO which was once announced oversubscribed by 73 times and made a big surprise in the Indian stock market industry. Once this IPO came out Anil Vs Mukesh Ambani was almost in a tie but anyway these guys had to refund the over subscription payment and this would again move back Anil ambani in the money race again the richest man
The Reliance Power[RPower] shares had come out recently in the market and they went much lower than the expected 600-900Rs , the IPO price tag was in the range of 425-450Rs/Share and when the shares came out the trading was in 350-400Rs range which is much lower and expected. This situation gave all the Indian stock market investors a huge loss and all these stuff gave sensex to drop heavily because most investors withdrew their funds to invest in Rpower in an expectation to make quick heavy returns. The Sensex broke from 21000 range to 16000 range within a month’s time and is still trying to gain up slowly.
The main problem with this RPower IPO was that most investors lost a month’s profit because their funds got struck in the IPO and later once the shares came out they were into losses rather than any quick profits. After all this drama now investors have seriously stopped believing on Anil Ambani because during the RPower IPO he promised that the investors wont suffer but on the other hand everyone suffered and now to keep the belief of the Share Holders , yesterday RPower announced free bonus shares to all the stock holders except the promoters and this will be officially announced soon, but was this step taken just to make sure that Anil Ambani Group does not recieve a bad name? or may be just to save the ‘Reliance Brand’ image?
Even after this announcement the Stocks didnt move up proving this was another lame step from Anil Dhirubhai Ambani group into order to gain publicity and make money out of it. There are some other rumours out in the market regarding these free bonus shares but which one do you think is true?
Reliance Power : Power On – India On[Gone]