Reliance Power prices record IPO at top

The greenfield Indian power producer attracts $188 billion worth of demand and close to five million investors.

Reliance Power has priced its initial public offering at the top of the range at Rs450 a share after investors showed complete confidence in the ability of the Reliance Anil Dharubhai Ambani Group to deliver on its plans for the company.

Although it is still a greenfield company that wonÆt generate any power or revenues for another two years, the strong investor support allowed the spin-off from Reliance Energy to raise Rs117 billion $3 billion. Of the total, $369...

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