Indian IPO

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Sunday, April 30, 2006

Sebi's order of barring Karvy will not affect RPL IPO

Sebi's order of barring Karvy as a registrar for new issues will not affect initial public offer, IPO, of Reliance Petroleum, RPL, reports agencies.

Though Karvy has been barred from acting as a registrar for new IPOs, it will not affect RPL IPO, as it has already happened, sources in Reliance Industries told.

In perhaps the largest ever oversubscription of a public issue in recent times, Mukesh Ambani-controlled Reliance Petroleum has received share applications for an unprecendent 49.72 times more than the size of its initial public offer.


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