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February 12, 2008

Reliance Power IPO Listing – Shocker for everyone

Reliance Power shares listing was certainly supposed to be news and shocking news for everyone. It did exactly that but in negative direction. It dipped to the extent of 21% in a disappointing debut as valuation concerns and global market slump rocked investor sentiment.

It closed at Rs 372 on BSE against issue price of Rs 450. The stock touched an intra-day high of Rs 599.90 and low of Rs 355.05.

On the NSE, Reliance Power ended at Rs 372.30.

So all hopes that this listing will revive market went out of window rather it did more damage then good.

Hard luck. Luckily hard luck is spread across as allotment was low.

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