Reliance Petroleum IPO
Reliance Petroleum IPO — date, price band, lot size & details 2006
Reliance Petroleum listed on 11 May 2006 at ₹99.95, 66.6% above the ₹60 issue price.
Reliance Petroleum was set up by Reliance Industries to build a new export refinery and polypropylene plant at Jamnagar, Gujarat. It was a project company with no operating revenue at the time of the IPO.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 13 Apr 2006
- Close 20 Apr 2006
- Allotment 03 May 2006
- Refund/credit TBA
- Listing 11 May 2006
Issue summary
The terms of the offer, as filed.
| IPO Dates | 13 to 20 Apr, 2006 |
|---|---|
| Price Band | ₹57 – ₹62 |
| Face Value | ₹10 |
| Lot Size | 100 Shares |
| Issue Size | ₹8100 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 6,000 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 100 shares at the ₹60 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 100 | ₹6,000 |
| Retail (max) | 33 | 3,300 | ₹1,98,000 |
| S-HNI (min) | 34 | 3,400 | ₹2,04,000 |
| S-HNI (max) | 166 | 16,600 | ₹9,96,000 |
| B-HNI (min) | 167 | 16,700 | ₹10,02,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01The refinery was to sit next to RIL's Jamnagar complex, which had assets of Rs 806 billion as of 31 March 2005.
- 02RIL had resolved to fund any shortfall in debt for the Rs 270,000 million project.
- 03The plan was a large 580 KBPSD refinery and a 0.9 million TPA polypropylene plant.
- 04Net worth was Rs 2,697.56 crore on 28 February 2006 before the issue.
Risks · 5
- 01It was a project company with no operating history; the project was due to finish around 2008.
- 02Any delay or cost overrun on the Rs 270,000 million project would hurt future returns.
- 03Refining margins are cyclical and depend on crude and product prices, which would drive returns on a 580 KBPSD refinery.
- 04There was no assurance that Chevron, which got 5% of the post issue capital, would enter a wider alliance.
- 05RIL held 85.71% before the issue and 75% after it, so the company depended on its parent.
The numbers
All figures in ₹ crore, as reported in the Reliance Petroleum offer document.
| Metric | 28 Feb 2006 |
|---|---|
| NET Worth | 2,697.56 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹27,046.76 Cr of the issue is earmarked to named objects.
About the company
It was set up to build a new refinery with a capacity to process 580 KBPSD of crude oil and a 0.9 million TPA polypropylene plant at Jamnagar, Gujarat, next to RIL's existing refinery and petrochemicals complex.
The project was estimated at Rs 270,000 million, with work starting on 1 December 2005. Before the issue, RIL transferred 225,000,000 shares, 5% of the post issue capital, to Chevron India.
The issue was 1,350,000,000 shares at Rs 60 (Rs 8,100 crore), within the Rs 57 to Rs 62 band. It included RIL's promoter contribution of 900,000,000 shares and a net issue to the public of 450,000,000 shares, 10% of the post issue capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Reliance Petroleum IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
HSBC Securities & Capital Markets (India) Pvt. Ltd.
59 issues handledBest listing: Dishman Pharmaceuticals & Chemicals (+97.1%). Weakest: Bannari Amman Spinning Mills (-25.2%).
SBI Capital Markets Ltd.
141 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: ICICI Securities (-16.3%).
Axis Capital
260 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
ICICI Securities
221 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Bannari Amman Spinning Mills (-25.2%).
Bofa Securities India Limited
64 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Puravankara Projects (-22.5%).
Ubs Securities India Private Limited
22 issues handledBest listing: BGR Energy Systems (+75.0%). Weakest: Bharti Infratel (-9.1%).
Citigroup Global Markets India Pvt. Ltd
74 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Puravankara Projects (-22.5%).
Deutsche Equities India Pvt. Ltd
14 issues handledBest listing: Firstsource Solutions (+40.8%). Weakest: Adlabs Entertainment (-9.9%).
JM Morgan Stanley Pvt. Ltd
22 issues handledBest listing: Infrastructure Development Finance Co (+76.5%). Weakest: House of Pearl Fashions (-9.1%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Reliance Petroleum?
The current Grey Market Premium is ₹0.
What is the Reliance Petroleum IPO price band?
₹57 to ₹62, on a face value of ₹10.
When is the allotment?
The basis of allotment is 3 May 2006, with listing on 11 May 2006.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
