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Reliance Infrastructure’s consortium concludes OFS of 5.42% equity shares of RPL

20 Dec 2012 Evaluate

Reliance Infrastructure along with other promoter group companies - Reliance Innoventures and AAA Project Ventures, has concluded an Offer for Sale (OFS) of 5.42% of the share capital of Reliance Power (RPL). The OFS received bids worth approximately Rs 2,300 crore, and was over-subscribed nearly 1.6 times from a large number of foreign and domestic institutional and other categories of investors.

The transaction was completed at a price of Rs 95 per share on a proportionate allocation method, resulting in gross sales proceeds of approximately Rs 1,500 crore. Axis Capital acted as the sole selling broker for the OFS.

Pursuant to the OFS, the public shareholding in Reliance Power has increased to 25%, thereby improving liquidity, apart from meeting regulatory requirements more than 6 months ahead of the deadline of June 30, 2013 fixed by SEBI.

Reliance Infra Share Price

87.48 0.00 (0.00%)
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Peers
Company Name CMP
NTPC 393.65
Tata Power 427.45
Adani Power 198.40
Power Grid Corp 318.05
Torrent Power 1565.30
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