Anil Ambani group's Reliance Power IPO on Tuesday generated a demand of close to Rs 1 lakh crore (Rs 1 trillion) within four hours of start of the book building process, with the issue getting oversubscribed nearly 10 times.
Reliance Power is part of the Anil Dhirubhai Ambani Group, which has interests in telecommunications, finance, energy and entertainment. This is the first time that Anil Ambani has tapped the markets ever since he and elder brother Mukesh spilt up the Reliance empire after a very public spat.
Mukesh Ambani is currently India's richest man. However, some people say that with the listing of Reliance Power, Anil Ambani might well pip his brother to the post to become India's -- and perhaps the world's -- richest human being.
According to one calculation, Reliance Power IPO is likely to gain close to $27 billion for Anil Ambani, which when combined with the existing market capitalisation of his companies will work out to be close to $75 billion!
The market cap of companies held by Mukesh Ambani is at a slightly more $76 billion.
Anil Ambani may soon pip Mukesh to be the world's richest man
Reliance Power IPO to gain close to $27 billion for the younger Ambani
Reliance Power IPO Equity
