Sunday, February 24, 2008 (Mumbai)
There is some good news for Reliance Power investors as Anil Ambani has announced a better than expected ratio for giving out bonus shares. For every five shares that an investor holds Reliance will issue three new shares. The rate for this works out to Rs 269 for retail investors.This is the first time anywhere that a promoter has issued bonus shares within days of listing. Ambani took this step because of the worse-than-expected listing of Reliance Power, India's biggest IPO ever.The issue price for small investors was Rs 430 but it ended on the first day of trade at about Rs 372.