Abhishek loses over Rs 1 cr on Reliance Power IPO

AMONG the millions who wished the Reliance Power Initial Public Offering (IPO) would change their fortunes, there was a close family friend of Anil Dhirubhai Ambani, Abhishek Bachchan.

Junior Bachchan put in close to a whopping Rs 1,000 crore, which is almost 10 per cent of the IPO’s value, hoping for a substantial allotment and good returns. However he lost over Rs 1 crore on Day 1 itself as the Reliance Power shares dipped 32 per cent to Rs 372.