Atul Karmarkar.Com

The recent turmoil on Dalal Street has caused Anil Ambani to scrap his plans of listing Reliance Infratel on the bourses for now. The company has allowed the regulatory approval from SEBI to pass it by. After getting the go-ahead on May 12, they had 90 days to launch the IPO and that period has ended. Reliance [...]

The Government is planning to list telecom behemoth BSNL on the stock markets, by diluting 10% stake as well as offering ESOPs to it’s employees. However, the plan has already run into rough weather, with the Communications Minister A. Raja unable to get consent from the employees union. BSNL has a paid up equity capital of [...]

Karvy Consultants at CG Road, Ahmedabad was witness to ugly scenes as some investors who did not get a refund of money put in the Reliance Power IPO, barged into their office and ransacked it.  The company lodged a complaint against the intruders at the Navrangpura police station. The investors said they had invested their money in the IPO and completed all the formalities for [...]

Reliance Power today anounced a 3:5 bonus to all shareholders excluding promoters, meaning 3 shares for every 5 shares held by a shareholder. Anil Ambani also mentioned that he was reducing his stake from 45% to 40% to compensate shareholders of Reliance Energy. How magnanimous of him !! The move means that those retail investors who [...]

In a completely surprising move, Reliance Power is considering an issue of bonus shares to all investors, excluding the promoter group. The decision will be taken at a meeting of its Board of Directors next Sunday, February 24. In the aftermath of the company’s poor listing on the bourses and the resultant backlash from retail investors, Anil Ambani [...]

The highly touted public listing of Reliance Power turned into a total disaster, as the stock, which opened at a slight premium at around Rs.530, was then hammered down within minutes to the Rs.350 levels, before closing the day at Rs. 372.30, compared to the issue price of Rs.430 for retail investors. Predictably, there was a bloodbath [...]

Happened to log in to my email account a while ago, and saw a mail from Karvy Consultants informing me that I’d been alloted 17 shares, and that the balance funds would be refunded at the earliest. Well… I guess that was pretty much the standard allotment based on how much I’d put in.