Reliance Petro to be listed in May

The shares of Reliance Petroleum, the subsidiary of Mukesh Ambani-owned Reliance Industries, is likely to be listed on the stock exchanges between May 5-10.

The public issue, priced between Rs 57-62, is scheduled to open tomorrow and close on April 20.

If the shares are listed at Rs 62, the company's market cap will be close to Rs 30,000 crore.

The public issue comprises of 135 crore shares of which Reliance would subscribe to 90 crore shares, and the balance offered to the public.

Post IPO, the total outstanding share capital of the company will stand at 450 crore shares.