Reliance Power Limited is established to develop, construct and operate power projects in the domestic and international markets. It is well known for its IPO (initial public offering).
On January 15, 2008, the company attracted Rs 10,260 crore ( US $27.5 billion) of bids on the first day of its IPO, equivalent to 10.5 times the stock on offer, thereby, creating India’s IPO record. The proposed IPO was to fund the development of its six power projects across the country whose completion dates are scheduled from December 2009 to March 2014. According to this article Reliance power spent total 30 crore to push IPO campaign:
A Rs 30 crore multimedia campaign, spread over 17 days, and that is just the tip of the Reliance ADAG brand juggernaut. Since it was created over two and a half years ago, Reliance ADAG has choked up an annual media spend of about Rs 500 crore, signed on agencies beyond Mudra and at this rate may challenge Hindustan Lever, the country’s largest advertiser.
The cliché goes-‘‘it takes money to make money’ and the Reliance ADA Group seems to have followed it to the T; pumping in money of around Rs 500 crore over the last year, to ensure it was the most visible brand.