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Article: Reliance Money does good business in group IPO

Article from:
The Hindustan Times
Article date:
February 7, 2008
Copyright

BS Srinivasalu Reddy

Hindustan Times

NEW DELHI, India, Feb. 7 -- Reliance Money, spearheading the personal finance initiatives of the Reliance ADAG group, has emerged in a big way in primary market fund raising activities by garnering over 20 per cent of a total number of over 49,70,000 applications received in the Reliance Power(RPL)initial public offer (IPO). This despite the involvement of all leading merchant bankers in the issue.

The company, which is seeking to be the top investment advisory and trading company in the country, has made a quiet foray into portfolio management services (PMS) with a minimum holding limit of Rs 5 lakh. Reliance Money offers various multiple-source ...

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