Reliance group mkt cap crosses Rs 2 trillion

RPL lists at 70% premium.

Reliance Petroleum Ltd has taken the Reliance group's market capitalisation to over Rs 2 lakh crore.

The aggregate market capitalisation of Reliance Industries, Reliance Industrial Infrastructure, IPCL and Reliance Petroleum zoomed to Rs 2.01 lakh crore. Public sector giant ONGC crossed the landmark figure a few days ago.

Today, the market capitalisation of Reliance Industries stood at Rs 154,525 crore, Reliance Industrial Infrastructure at Rs 1,241 crore, IPCL at Rs 7,028 crore and of RPL at Rs 38,434 crore. Reliance Petroleum listed on the bourses today at Rs 101.95, a premium of around 70 per cent from the issue price of Rs 60. The initial public offer was in a price band of Rs 57-62.

Profit booking at the Rs 100 plus level saw the scrip slide to Rs 88.80. Subsequently, it touched an intra-day low of Rs 81.10 and closed its debut at Rs 85.50 "" 42.33 per cent over the listing price.

Volumes at this counter were significantly high despite a technical snag at the BSE, which halted trading for over 90 minutes. At the National Stock Exchange, a whopping 31.5 crore shares were traded. The BSE registered volumes exceeding 7.2 crore shares.

The total volume traded on both the exchanges put together was 38.54 crore "" 31.54 crore on the NSE and 7 crore on the BSE. The total IPO size offered to the public was 45 crore shares.

Speaking at the listing ceremony of Reliance Petroleum, Mukesh Ambani, Reliance Industries' chairman and managing director, said, "The Jamnagar refineries will account for 2 per cent of the global crude oil refining. The Reliance Petroleum refinery will emerge as the sixth largest in the world and one in every 50 barrels produced in the world will be processed at a single location at Jamnagar. The IPO had received an order book of Rs 1,43,000 crore, which was half of the foreign direct investment China receives annually."

He added that India was emerging as the world's most vibrant market, challenging even New York.

"In the process of corporate development in the country, the common Indian should also benefit. The IPO added 12.6 new shareholders to the Reliance family from 21 lakh applicants," he said.