Ada Celebrates His Wealth on the Tunes of Nero
Marceline asks:
ADA throws party tonight to celebrate success of IPO and successfully proves himself as modern version of the Rome king- Nero.
When Rome was burning! There is an ancient story on how Nero- the king played fiddle – a musical instrument while the Rome was burning. Something similar happened today.
ADA rang the bell in morning to list his IPO and Indian investors who participated in large numbers to subscribe Reliance Power issue were crying whole day. More than 50 Lakh investors participated in this historic Initial Public Offer at the last count.
One should also not overlook the fact that the largest public issue in Indian stock market history also created records for over subscriptions.
However, when it got listed today, investor lost unparalleled wealth. At the last count, more than 17%. When the stock market closed, Reliance Power IPO closed at 372 compared to the issue price of Rs. 450. It has never happened in the history of Reliance group.
However, what is more surprising is that the promoter’s, Mr. Anil Ambani’s wealth increased by almost Rs. 38,000 crore. Mr. Ambani currently owns 45% of the Reliance Power in his personal companies and has invested at Rs. 10 per share in the company compared to other investors from whom they have taken Rs. 450 per share. Even at 372, he has generated a profit for himself of Rs. 272 per share. Can one beat it? When the entire stock market is burning, the Nero is enjoying.
To celebrate this unparalleled personal wealth creation, he arranged a party on Monday evening at his multistoried residence Sea Wind. The party was held at the 5th floor swimming pool side. The top cabinet of Mr. Ambani along with the merchant bankers, investment bankers, private equity types, movie stars and several dignitaries attended this party to celebrate the great success of Reliance Power IPO although more than 50 lakh investors have lost more than 17% of their wealth in this much hyped IPO which has brought bad name to the house of Reliance. Wine, whisky and seven star catering adorned the menu in the glittering ceremony.
This reminds one of Nero playing the fiddle while Rome kept on burning. However, here, there is a reason. Mr. Ambani benefited immensely although small investors lost. However, who cares for small investors in India?
ADA throws party tonight to celebrate success of IPO and successfully proves himself as modern version of the Rome king- Nero.
When Rome was burning! There is an ancient story on how Nero- the king played fiddle – a musical instrument while the Rome was burning. Something similar happened today.
ADA rang the bell in morning to list his IPO and Indian investors who participated in large numbers to subscribe Reliance Power issue were crying whole day. More than 50 Lakh investors participated in this historic Initial Public Offer at the last count.
One should also not overlook the fact that the largest public issue in Indian stock market history also created records for over subscriptions.
However, when it got listed today, investor lost unparalleled wealth. At the last count, more than 17%. When the stock market closed, Reliance Power IPO closed at 372 compared to the issue price of Rs. 450. It has never happened in the history of Reliance group.
However, what is more surprising is that the promoter’s, Mr. Anil Ambani’s wealth increased by almost Rs. 38,000 crore. Mr. Ambani currently owns 45% of the Reliance Power in his personal companies and has invested at Rs. 10 per share in the company compared to other investors from whom they have taken Rs. 450 per share. Even at 372, he has generated a profit for himself of Rs. 272 per share. Can one beat it? When the entire stock market is burning, the Nero is enjoying.
To celebrate this unparalleled personal wealth creation, he arranged a party on Monday evening at his multistoried residence Sea Wind. The party was held at the 5th floor swimming pool side. The top cabinet of Mr. Ambani along with the merchant bankers, investment bankers, private equity types, movie stars and several dignitaries attended this party to celebrate the great success of Reliance Power IPO although more than 50 lakh investors have lost more than 17% of their wealth in this much hyped IPO which has brought bad name to the house of Reliance. Wine, whisky and seven star catering adorned the menu in the glittering ceremony.
This reminds one of Nero playing the fiddle while Rome kept on burning. However, here, there is a reason. Mr. Ambani benefited immensely although small investors lost. However, who cares for small investors in India?
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