Reliance Power Could not Show Power on Listing Day
Reliance Power, the new company Anil Dhirubhai Ambani Group Company with one of the biggest IPO in Indian stock markets, has closed at Rs. 372 which is almost 17% down from the issue price. It even touched a low of Rs 355.30 before closing.
It had jumped to a high of Rs 530 but immediately came down below the issue price on huge selling pressure from retail in vestors and HNIs. The stock was remained below issue price through the day. It has tried to hold above Rs 400 but could not make it. Reliance Power IPO was oversubscribed approximately 70 times.
If you have not got a chance to see the allotment status in your demat account for this share, which is unlikely, you can check reliance power IPO allotment status for your application number. Though I am sure you are not very excited to see it anymore like you were few days before.
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