Reliance Energy Ventures Ltd shares listed on the bourses on Friday and traded at Rs 48.90.
REVL opened at Rs 48.90 and within minutes of the scrip being listed, over 1.20 crore (12 million) shares changed hands and 305 block deals were registered on the Bombay Stock Exchange and National Stock Exchange.
The company is one of the four newly carved out from Mukesh Ambani-controlled Reliance Industries and transferred to Anil Dhirubhai Ambani group as part of a settlement.
A total of 122.31 crore (1.22 billion) equity shares of face value Rs 10 were listed. REVL will later be merged with Reliance Energy as boards of the two companies had already approved the move.
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