India's biggest initial public share offer by Reliance Power made domestic financial history as investors ordered nearly $200 billion worth of stock, figures have shown.

'I am humbled by the level of respect that Indians have placed in me,' company chief Anil Ambani said 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, amid forecasts that the energy demands of India's fast-growing economy could create a booming business.

The IPO also received the largest-ever number of subscriptions in Indian capital market history as investors ordered more than 7.52 trillion rupees ($191 billion) worth of stock.

Anil Ambani noted the response was more remarkable since investors worldwide have been rattled by prospects of a US economic slowdown.

Investor orders for stock were more than triple the previous Indian record of 2.04 trillion rupees bid for an offering of Mundra Port, India's largest private sector port, last November, bankers to the issue said.

The offering will be priced at the top end of its band - 450 rupees a share - and will list on stock exchanges in early February, Ambani said.

The Reliance Anil Dhirubhai group, which includes Reliance Power, will become the second largest Indian conglomerate, with a market capitalisation of $100 billion, Anil Ambani said.