Click to play videoMumbai: It was a historic day not only for Dalal Street, but for the Ambani family as well as the stock closed even below its listing price on the first day. Reliance Power dampened the hopes of lakhs of investors who planned to make a quick buck from its initial public offer.
"It's not the commitment made by HNI's and large investors but the power of India and the Indian Capital market and the retail investors that matter more to me," said Anil Ambani.
With 5 million retail investors and 500 institutional investors, this could very well have been a dream launch Anil Ambani has envisioned, but fate had other plans.
It was a promise that failed to bring a smile on the investor's face. Just 10 minutes into trading and the mood at Dalal street said it all.
People who lost huge sums said they were disappointed and that they had lost faith in Brand Reliance.
A stock from the Reliance stable is something they would never give a miss, but this time around it was a serious let down.
The stock closed below its issue price of Rs 450 at Rs 437. But analysts say it will be wise to wait for the future.
For the first family of Dalal Street, it's a case of severe Monday blues and for investors, a lesson they will never forget.
(For updates you can share with your friends, follow IBNLive on Facebook, Twitter, Google+ and Pinterest)
More on IBNLive Right Now
TOP NEWS
MOST SHARED
PHOTOGALLERY
