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India's Reliance Power says IPO fully subscribed

Mon Jan 14, 2008 11:41pm EST

(For IPO data and performance, please click <IN/IPOMENU>)

MUMBAI, Jan 15 (Reuters) - The initial public offering of India's Reliance Power was fully subscribed in the first minute after it opened on Tuesday, a spokesman said, affirming investors' appetite for an issue which is worth up to $3 billion.

Reliance Power plans to build power plants across India using funds raised by selling 10 percent equity in the firm, which is 50 percent owned by utility Reliance Energy Ltd RLEN.BO.

The IPO, India's biggest ever, kicks off a busy period for capital raising in the booming economy.

For more detals, double-click on [ID:nBOM38131] (Reporting by Rina Chandran; Editing by John Mair)



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