| However, despite the rise, the share remained well below the offer price of Rs 450. This is the first time that the stock has moved forward from the previous day's close since its listing on Monday. |
| Dealers attributed the rise to some short covering that was seen in the scrip. On the Bombay Stock Exchange (BSE) alone, 8,315,008 shares were traded. The BSE Power Index was up 8.14 per cent. |
| In another development, angered by the fall in share prices and the Securities and Exchange Board of India (Sebi's) alleged rush to clear the Reliance Power IPO, several investors on Thursday held demonstrations outside the Sebi Bhavan in Bandra-Kurla Complex. |
| Meanwhile, the share registrars of Reliance Power, Karvy Computershare, on Thursday issued a press release saying allotment of shares was approved on February 1, 2008. |
| The share registrar further claimed that credit of shares and/or refunds had been made to applicants after validating the demographic details with the depositories and on confirmation of receipt of money from the bank. |
| The refund of amounts had been made electronically to the bank accounts of the investors as per the details provided by them in their demat accounts. |
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