S&P 500
7,615.20
-0.09%
Dow Jones
51,320.00
-0.10%
Nasdaq 100
30,651.40
-0.21%
Russell 2000
2,928.58
-0.15%
FTSE 100
10,383.00
-0.05%
Nikkei 225
68,424.20
+1.37%

Investing

Reliance Power, India’s Largest IPO Gobbled Up

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published

Indian billionaire Anil Ambani’s Reliance Power raised roughly $3 billion in the country’s largest initial public offering.  The IPO was fully subscribed today as investors continue to commit capital in this key component of the international BRIC investments in emerging markets.  Most bids came in four to ten times oversubscribed, although this exact number is different from source to source.

Reliance Power currently has a portfolio of 13 medium and large-sized power projects under development and strategically located in various locations in India, according to the company itself.

It appears that the over-direct of necessary funds to bid ended up taking its toll on the entire market as the Sensex closed down about 476 points to 20,251 in a near 2% drop.

Jon C. Ogg
January 15, 2008

Follow 24/7 Wall St. on Google
Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

India’s Largest Retailer to Accept CBDC at Stores
247patrick |

India’s Largest Retailer to Accept CBDC at Stores

India’s biggest retailer Reliance Retail announced the support for the digital rupee in its Freshpik line of stores across the…

Paul Ausick |

Renewable Energy to Exceed Natural Gas as Power-Generation Fuel by 2016

thinkstockThe International Energy Agency (IEA) said today that power generation from renewable sources will surpass generation by natural gas by…

3 iShares India ETFs to Buy Before 2026 as Growth Powers Past the US
David Beren |

3 iShares India ETFs to Buy Before 2026 as Growth Powers Past the US

India’s economy continues to outpace most of the developed world, with the IMF and World Bank projecting multi-year growth well…

Douglas A. McIntyre |

The Bogus Resurrection of Nuclear Power

The latest stimulus program news out of Washington is astonishing for its lack of ambition. President Obama announced $8.3 billion…

Douglas A. McIntyre |

Interior Department Approves First Solar Projects Which Won’t Work On Public Lands

It may seem to be an extremely modest start, but the Interior Department has approved two large-scale solar projects which…

Jon C. Ogg |

Another Cal-State University Moves to Fuel Cell Power (FCEL)

FuelCell Energy Inc. (NASDAQ: FCEL) is running higher this morning on news that Southern California Edison Company has ordered a…

5 Nifty50 Stocks Near 52-Week Lows That Analysts Say Are Screaming Buys
Vandita Jadeja |

5 Nifty50 Stocks Near 52-Week Lows That Analysts Say Are Screaming Buys

Indian stock market has opened in the red amid the Iran-Israel war. Indian equity benchmark indices, Nifty50 opened in the…

Paul Ausick |

Walmart Still Struggles in India

Walmart tried for at least the past two years to persuade the government of India to allow more foreign direct…

Douglas A. McIntyre |

The Ten Countries That Rule The World’s Wind Energy

The biggest producers of wind power are racing to add capacity to meet growing energy demands. Last year alone, the…

Top Gaining Stocks

Hewlett Packard Enterprise
HPE • Vol: 153,197,465
Enphase Energy
ENPH • Vol: 8,360,053
Corning
GLW • Vol: 18,152,646
Alexandria Real Estate Equities
ARE • Vol: 4,337,015
Aptiv
APTV • Vol: 6,761,325

Top Losing Stocks

Trade Desk
TTD • Vol: 21,905,513
Intuit
INTU • Vol: 7,383,018
Coterra Energy
CTRA • Vol: 73,319,495
Cboe Global Markets
CBOE • Vol: 5,000,011
HP
HPQ • Vol: 29,259,826