Reliance Money

Reliance Money in pact with DBS Vickers

• Reliance Money has entered into a pact with DBS Vickers Securities (Singapore) Pt. Ltd to facilitate trading in global commodities exchanges for Indian corporate and other appropriate participants.
• The announced was made by Sudip Bandyopadhyay, director and CEO, Reliance Money, in Mumbai on Wednesday(10th Dec 2008).
• The size of the global commodities derivatives markets is estimated to be around $800 billion. Indian investors are looking at diversifying their portfolio and overseas trading service enables them to do so.
• Globally, exchange traded commodity futures is one of the largest market segments in the financial markets witnessing participation from the producers, users,traders alike. The offering under this agreement will broadly comprise derivatives in agricultural products, metals and energy products traded on various major exchanges worldwide as well as OTC products in segments such as energy and freight.
• Reliance Money is part of the Reliance Anil Dhirubhai Ambani Group, while DBS Vickers is a wholly-owned subsidiary of DBS Bank, one of the largest financial services groups in Asia. DBS Vickers is a leading securities and derivatives brokerage firm in Singapore with a rich Asian heritage and strong Asian focus.

Reliance Power goes below issue price

Reliance Power, whose IPO made history on the Indian stock exchanges in January, sent ripples through the market when it closed 17 per cent below allotment price on listing on 11th Feb.
The stock opened on the BSE with a gain of Rs 97 over the issue price of Rs 450.
Within minutes it fell to Rs. 389 as investors rushed in to sell, to book “listing gains.”
For the rest of the day, the stock traded below Rs. 450, closing the day 17 per cent down, at Rs. 372.50.

Reliance Power

• Reliance Power, which recently entered the capital market with its maiden offer of 22.8 crore shares, is set to allot 15 shares apiece to 43 lakh retail investors, who have applied for 225 shares and above.
• The process of allocation of shares has been concluded and details will be out shortly. Of the 50 lakh retail applicants, while 43 lakh would get 15 shares, about four lakh investors who have applied for less than 225 shares would not get any share and the rest, about 3 lakh, have not been considered due to invalid applications.
• The company sought to raise Rs 11,500 crore. As the issue was subscribed 73 times, it ended up with Rs 4.52 lakh crore (about $119 billion). With the allocation process nearing completion, about Rs 1 lakh crore will be refunded.