Sebi order barring Karvy not to affect RPL IPO

Sebi's order of barring Karvy as a registrar for new issues will not affect IPO of Reliance Petroleum.

Though Karvy has been barred from acting as a registrar for new IPOs, it will not affect RPL IPO as it has already happened, sources in Reliance Industries told PTI.

In perhaps the largest ever oversubscription of a public issue in recent times, Mukesh Ambani-controlled Reliance Petroleum has received share applications for an unprecendent 49.72 times more than the size of its IPO.