Reliance power going offer bonus shares

Reliance Power Ltd(Anil Ambani group) decided to issue bonus shares to all categories of investers,excluding the promoters comprising Reliance Energy and ADA Group.This decision is going to be finalised in the meeting of its Board of Directors on Feb 24. the company listed on indian stock market on Feb 11.Reliance power's Initial Public Offering which was offered for retail investors at Rs.430 a share and institutional investors at Rs.450 a share. But in the listing day itself it went down around 16% of its issue price Rs 450 during the closing it went to Rs 373. so all the investers was disappointed and they are very angry on anil ambani. This is the first time thatan issue bearing the Reliance tag had failed to make money for investors in the very first day. The company has written to the SEBI denanding on investigation into the market manipulation. After Rel.power board meet on FEb 24 only we can get an clear picture about the bonus ratio and other details. because of this news today (monday) you can see an upside movement in Reliance power.

1 comments:

Stock Marketed said...

What else could Anil Ambani do? He had to... Infact i really admire Anil Ambani, because inspite of elder brother Mukesh Ambani hammered the Reliance Power stock http://rilfraud.blogspot.com/2008/02/reliance-industries-ril-mukesh-ambani.html
just to make it unsuccessful, Anil Ambani is giving out shares. I hate Mukesh Ambani as a small investor, he has hammered a lot of other small investors like me, with this. I am glad that ET has carried an article http://economictimes.indiatimes.com/Market_News/Why_R-Power_lost_17_on_debut/articleshow/2799651.cms and even more surprised that SEBI has its eyes shut.