Reliance Power to issue Bonus Shares

Friday, January 25, 2008

Reliance Power to issue Bonus Shares

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.

That is really a great news, 4 me :)

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