The Hindu : Business : RPL makes debut with a bang

Online edition of India's National Newspaper
Friday, May 12, 2006

Business

Business

RPL makes debut with a bang

Special Correspondent

Thirtynine crore shares change hands on BSE and NSE on first day of trading

PHOTO: Paul Noronha

A NEW BEGINNING: Mukesh D. Ambani (right), Chairman, Reliance Petroleum Ltd., with Nimesh Kampani, Chairman, JM Morgan Stanley, striking the gong at the listing ceremony of Reliance Petroleum on the Bombay Stock Exchange on Thursday.

MUMBAI: Reliance Petroleum Limited (RPL) was listed on the Bombay Stock Exchange at Rs. 101.95 on Thursday, 68 per cent higher than the offer price. However, its shares closed at Rs. 85.40. This is 42 per cent higher than the offer price. Despite technical snag that hit the BSE, the total volume traded on both exchanges, NSE and BSE, put together was at 38.54 crore.

The total IPO size offered to the public was 45 crore shares. The market capitalisation of RPL on the first day of trading was at Rs. 38,430 crore. It is among the 15 largest companies by market cap.

Nearly three decades ago, Reliance Industries came out with its first public issue. "With that modest step, my father Dhirubhai Ambani ushered in the common man's era in the Indian capital markets.

"Today is another historic day,'' said Mukesh D. Ambani, Chairman, RPL, at the listing ceremony

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