It was supposed to be the IPO that could make Anil Ambani the richest man of India, bypassing elder brother Mukesh Ambani. However, it did create history, but only on the other side.
The pain for Reliance Power IPO does not stop there. As per the latest news, SEBI has received 2261 complains, almost all from Retail Investors, against the Reliance Power IPO. The primary reasons for complains are No Refunds sent to the investors, No Credit/allotment of Shares and no receipt of interest on the delayed refunds.
Interestingly, almost all the complains have come from the retail investors, and more interestingly, the issue has reached the Parliament. The minister for finance has apprised the parliament that the issues have been forwarded to SEBI who have forwarded it to the concerned company which is looking into the matter.
Already the investors of Reliance Power Issue are beating their heads for the negative price movement they have seen in the price of reliance power after listing of the shares. Even a Bonus issue offer from the ADAG could not help the falling stock prices. Now the number of complains that have piled up is shattering the trust of the investors.
Related: Reliance Power Bonus Shares Allotment Date
| Let’s see what is the outcome of all these complains. If you are one of the affected applicants of the Reliance Power IPO, then you must address your grievances to the concerned authorities without delay. | Table of Contents |
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