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India's 10 largest IPOs

January 18, 2008
India's initial public offer (IPO) market has emerged as the eighth largest in the world. The year 2007 saw 105 public offerings raising Rs 39,387.72 crore (Rs 393.877 billion). Accodring to some estimates, the total value of public issues in 2008 could be as high as Rs 75,000 crore (Rs 750 billion).

Here's a look at India's ten largest IPOs ever:

No. 1: Reliance Power Ltd

IPO size: Rs 11,700 crore
Year of issue: 2008

Anil Dhirubhai Ambani Group-promoted Reliance Power Ltd's Rs 11,700 crore (Rs 117 billion) initial public offering has set many a record: it started off with a bang on January 15 with the share sale -- India's biggest-ever -- getting fully subscribed within a minute of opening.

The Reliance Power IPO of 26 crore (260 million) equity shares is worth $3 billion. Most of the bids came at Rs 450, the upper end of the price band, making it the country's largest IPO with estimated proceeds of Rs 11,700 crore.

The Qualified Institutional Bidder (QIB) portion was subscribed 17.5 times and high net worth investor (HNIs) segment was subscribed 6.7 times.

The company was offering the equity shares at a price band of Rs 405-450 per share. The bidding for allotment of shares in the IPO was to close on January 18.

Anil Ambani, chairman, ADAG group. Photograph: Indranil Mukherjee/AFP/Getty Images


Also read: The world's greatest investors

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