MUMBAI, Jan 19: India’s biggest initial public share offer by Reliance Power made domestic financial history as investors ordered nearly $200 billion worth of stock, figures showed on Saturday.

“I am humbled by the level of respect that Indians have placed in me,” company chief Anil Ambani told a packed news conference after the figures were tallied following a four-day subscription period.

The initial public offering (IPO) was oversubscribed 73.04 times as investors scrambled for a slice of the $2.9 billion flotation.

The IPO received five million applications for shares, beating the previous Indian record of 1.95 million for an offering by Reliance Petroleum in 2006, promoted by Anil’s elder brother Mukesh.

The company offered 260 million shares, or 10.1 per cent of its capital.—AFP