Date:06/05/2006 URL: http://www.thehindubusinessline.com/2006/05/06/stories/2006050603971500.htm

Back Reliance Petro IPO allotment completed

Our Bureau

MEGA LAUNCH: A file picture showing Mr Nikhil Meswani (right), Executive Director, Reliance Industries Ltd, with Mr Kamal Nanawati, President, Cracker & Polymers, to announce the public issue of RPL on April 12. - Kamal Narang

Mumbai , May 5

Share allotments for Reliance Petroleum Ltd's (RPL) IPO were completed today, bringing in 12.60 lakh new shareholders into the Reliance Industries Ltd (RIL) family, market sources said.

RPL, which priced its IPO at Rs 60 a share, received 21.20 lakh applications from retail investors, beating previous records set by TCS (just over 12 lakh) and NTPC (14 lakh).

Sources said that the demat accounts of the successful applicants were credited with RPL shares in the evening.

The company has also refunded the balance amount of over Rs 29,150 crore to the unsuccessful applicants.

While 9.25 lakh intimations were given through the electronic clearing system, the refunds for the remaining 11.85 lakh applicants were dispatched on Friday evening.

According to sources, the RPL issue is likely to list on May 11. The registrars, Karvy, completed the entire allotment procedure in just 7 working days.

Sources said that Karvy also ensured that multiple applicants, if any, did not get allotments by eliminating their applications in the wake of the IPO scam.