The $3 billion Reliance Power IPO had a big-bang opening on Tuesday morning and the issue was oversubscribed?

Abbey asks:
in the above statement
3billion is equal to how much or
1 billion is equal to how much ?
in the above statement
3billion is equal to how much or
1 billion is equal to how much ?
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3 billion is 3 thousand millions. 1 billion is one thousand millions.