New Delhi: Anil Ambani led Reliance Energy on Monday surged over 13 per cent to a record high on the Bombay Stock Exchange, riding on the announcement that its subsidiary Reliance Power will soon enter the capital market.
The scrip touched an intra-day high of Rs 1,366.10, up 13.32 per cent from Friday's close of Rs 1,205.50 on the Bombay Stock Exchange. It was trading up 12.40 per cent at Rs 1,355 on the exchange in afternoon trade.
A total of 93.94 lakh equity shares changed hands at the BSE as well as National Stock Exchange in afternoon trade. Reliance Power is expected to file next week its draft prospectus for the IPO, which is aimed at part-financing its about Rs 100,000 crore investment plan for setting up coal, gas and hydro power projects in the country. If successful, the public offer could value the company at over 20 billion dollars.
The decision for an IPO was taken at the Board meeting of Reliance Energy headed by Ambani, whose group as such has a market capitalisation of over Rs 200,000 crore.
On the National Stock Exchange, REL shares jumped 13 per cent to an intra-day high of Rs 1365.95 and was trading at Rs 1349.05, up 11 per cent in the afternoon trade.
Shares of another Anil Ambani Group firm, Reliance Capital, also surged 8.73 per cent to an all-time high of Rs 1722.90 and was trading at Rs 1717.20 up 8.37 per cent in the afternoon trade.
This led the company's market capitalisation to cross the Rs 40,013 crore or 10 billion dollar today, with over 10.29 lakh equity shares changing hands at the BSE.
With inputs from PTI
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