India Reliance Power Shares Fall Below IPO Price On Debut

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HONG KONG -- Shares of Reliance Power Monday fell below their initial public offering price on debut in Mumbai, although the company's 117 billion rupee-offering ($3 billion), India's largest to date, was subscribed more than 70 times last month. The shares were recently quoted at 418.70 rupees, compared with the IPO price of 450 rupees. Nearly 35 million shares changed hands on the Bombay Stock Exchange

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