Reliance Power Bonus Issue

Reliance Power Bonus Issue is the next big news in the Indian Stock markets. Reliance Power IPO was the most talked out news in the markets till the IPO listed and turned negative. ADAG Group shares are badly affected by the listing and to cheer up the retail share holders and the QIB’s the company has called up for a Bonus Issue which is to be decided in the upcoming Board meeting on 24th February. Reliance Power bonus shares will be issued  to all existing shareholders excluding promoters by diluting the stake of the promoter’s share holdings. However market analysts believe that the Reliance Power Bonus Issue has been announced as part of the management’s admission that the issue was overpriced and it is a correction move to correct the aggressive pricing at which the IPO was offered. Reliance Bonus Issue should bring some joy to the investors as the stock has moved up by over 10 per cent in the Monday morning trades. Reliance Power Bonus Issue Ratio and Reliance Power Bonus Issue Record Date will be known only after the board meeting. Do check back for more updates and information on Reliance Power Bonus Issue.

Reliance Power Bonus Issue Update : Reliance Power Ltd has informed the Record Date of Reliance Power Bonus Issue. The company in an annoucment made has informed to the Members that the Share Transfer Books of the Company will remain closed from June 03, 2008 to June 05, 2008 for the purpose of Issue and allotment of Reliance Power Bonus shares.

Reliance Power Ltd has announced that the Board of Directors of the Company at its meeting held on February 24, 2008, has approved a proposal for issuing free bonus shares to all categories of shareholders, excluding the promoter group (comprising of Reliance Energy Ltd. and the ADA Group), in the ratio of 3 shares for every 5 shares held, subject to necessary approvals.

The proposed bonus offering will result in reduction of the cost of Reliance Power shares below the IPO price as follows:
Rs 269 per share for retail investors, 40% lower than the IPO price of Rs 430.
Rs 281 per share for other investors, 37% lower than the IPO price of Rs 450.

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