Reliance Power Ltd declared 3 bonus shares for every 5 shares held
The bonus issue will bring the cost of per Reliance Power ltd share for retail investors to Rs 269 (earlier Rs 430) and for others to Rs 281 (earlier Rs 450).
The expected ex-bonus share price would be around Rs 300, if the market situation remains same as current market.
“I have been personally concerned by the notional losses arising to millions of our investors as a result of a dramatic adverse change in sentiment in global and domestic capital market after the pricing of our IPO,” Ambani said. “The board endorsed my concern and approved the bonus issue.”
Company needs approval from its shareholders before sending the bonus issue detail to stock exchanges to fix record date.
Once record date has been declared, all the investors holding shares on that date, would be entitled to receive bonus shares.
More information about indian IPOs here:
http://www.stockmarketsreview.com/ipoindia/
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