Reliance Power IPO Part Payment Details

 Part Payment Details

a) Only Retail Individual Bidders and Non-Institutional Bidders are eligible for this method. QIBs cannot submit a Bid under this Payment Method.
b) While bidding, the Bidder shall make a payment of Rs. 115.0 per Equity Share, irrespective of the Bid Price. Investors should note that the total Bid Amount will be used to determine whether a Bid is in the Retail Individual category, Non-Institutional category or not, and not the amount payable on submission of Bid-Cum-Application Form.
c) Under Payment Method-1, of the Rs. 115.0 paid while bidding, Rs. 2.5 would be adjusted towards face value of the Equity Shares and Rs. 112.5 shall be towards share premium of the Equity Shares applied for.
d) At the time of allotment:
1. If the amount paid by the Bidder is equal to or higher than the total amount payable (being the Issue Price multiplied by the number of shares allotted, net of Retail Discount) by the Bidder on the Equity Shares allotted to the Bidder, we reserve the right to adjust the excess amount towards the Balance Amount Payable and issue fully paid Equity Shares only. The excess amount, if any, after adjusting the Balance Amount Payable shall be refunded to the Bidder (i.e., Refund = Total amount paid on bidding minus the total amount payable on the shares allotted).
2. If the amount paid by the Bidder is less than the total amount payable by the Bidder (being the Issue Price multiplied by the number of shares allotted, net of Retail Discount) on the Equity Shares allotted to the Bidder, we reserve the right to adjust the excess of the amount received from the Bidder over the Amount Payable on Submission of Bid-cum-Application Form towards the Balance Amount Payable and issue a Call Notice for the balance.
3. The notice of the Balance Amount Payable will also be published in two widely circulated newspapers (one each in English and Hindi) and a regional newspaper along with the statutory advertisement for the Basis for Allotment.
e) Equity Shares in respect of which the Balance Amount Payable remains unpaid may be forfeited, at any time after the Due Date for Balance Amount Payable.

Reliance Power IPO Allotment, Listing

 Reliance Power allotment is likely to be completed in the last week of January 2008

Reliance Power is likely to be listed by the first week of February 2008

Karvy is the registrar for the issue

Here is the Red Herring Document ( 4 MB) - Right Click and SAVE

Reliance Power discount for Retail investors

Retail investors will get a discount of Rs 20 per share on the issue price which will be decided through book building process. However, the public offer is only for 30 per cent of the issue.

Manaksia IPO Listing

 Will List On 8 January 2008

The company had fixed the issue price at the top end of the Rs 140-160 price band. At the IPO price of Rs 160, the PE multiple works out to 12.12, based on the year ended March 2007 annualised EPS of Rs 13.20.

Reliance Power IPO - Crisil gives 4/5

Proposed public issue of 260 million equity shares of face value Rs 10 targeted at an issue size in the range of INR 105 to 115 billion

CRISIL has assigned a CRISIL IPO Grade '4/5' (pronounced 'four on five') to the proposed initial public offer of Reliance Power Ltd (RPower). This grade indicates that the fundamentals of the issue are above average, in relation to other listed equity securities in India.

The grading assigned reflects CRISIL's view that strong demand for power in India will catalyse regulatory facilitation for private participation in the power sector over the medium to long term. In this scenario, early movers like RPower will benefit from attractive business opportunities that are likely to come about as a result, especially if they achieve high levels of financial capability, as is likely for RPower after its proposed IPO. The grading also reflects the Reliance Anil Dhirubhai Ambani Group's commitment that RPower will be the sole repository of the Group's economic interest in the power generation segment. The grading is tempered by the fact that RPower is planning to put up capacity, on a scale and within a time frame, never achieved in India before and therefore it is likely to face significant implementation challenges. The grading also reflects the fact that power generators in India will have to depend on SEBs for off take over the short-to-medium term and that their return will be subject to the regulatory oversight in case of Two-part tariff based Projects such as Rosa I (600 MW) and Rosa II (300 MW). Also, returns on the projects won through the competitive bidding route may not be substantially higher due to competition.

About the company
Reliance Power Ltd. is a part of the Reliance ADA Group and has been established with the objective to develop, construct and operate power projects both domestically and internationally.

RPower does not have any power plant in operation as of now. The company proposes to install 28,200 Mega watt (MW) generation capacity over the next 8 years. Of the total proposed capacity, six projects totalling 7060-MW (Butibori, Shahapur coal, Sasan, Rosa-I &II and Urthing Sobla) are in various stages of implementation. Commercial operations of the first unit of proposed project, Rosa-I (2*300 MW), is expected by December 2009. All the six identified projects would be executed through wholly-owned subsidiaries of RPower, except Urthing Sobla and Butibori, where RPower would hold 80 percent stake and 74 percent stake, respectively.

Besides, the aforementioned identified projects which are in advanced stages of implementation, RPower also proposes to set up seven more generation projects, which are in developmental stage. These include the gas-fired Dadri (7,480 MW) and Shahapur gas project (2,800 MW); the coal-fired MP Power project (3,960 MW) and Krishnapatnam (4,000 MW); three run-of-the-river hydroelectric projects, Siyom (1,000 MW), Tato II (700 MW) and Kalai II (1,200 MW).