Reliance Petro price band at Rs 57-62

 Investment banking sources said the company would organise a series of international road shows in cities, including Hong Kong, Singapore, London, Boston, New York and San Francisco. Reliance Industries Chairman Mukesh Ambani is expected to attend two of them.

A couple of days ago, Reliance Petroleum had concluded a pre-IPO private placement of Rs 2,700 crore to a clutch of investors.

 They include LIC, State Bank of India, Goldman Sachs, Deutsche Bank, Citigroup, IDBI, Syndicate Bank, UTI Bank, Bank of Baroda, and Mukesh Ambani and his family.

The IPO will offer 1,350 million shares. Reliance will again acquire 900 million shares through the IPO, exactly the same amount to be offered to the public. This will have a three-year lock-in period.

Reliance Petroleum