Mumbai, Feb 11: Dreams of striking gold with the time-tested Reliance name came crashing down as retail investors of Anil Ambani group firm, Reliance Power, lost an astronomical Rs 475 crore on the day of its listing on Monday.

The losses for foreign institutional investors were even bigger at about Rs 800 crore as Reliance Power wilted under selling pressure and ended the day at Rs 372.5 a share as against an issue price of Rs 450.

Soon after listing with a premium of 21 per cent at Rs 547.8 a share, it rose to a high of Rs 599.90, but could not sustain even above the issue price as the day progressed.

The investors who could not make it at the time of share allocation in the issue, which generated a demand of Rs 7,50,000 crore for mopping up just Rs 11,560 crore, may be a happy lot, said a leading broker at the Bombay Stock Exchange.

Getting the shares issued at a concessional price of Rs 430 a share, the retail investors were dreaming big with reports suggesting that grey market trading had priced the company's share at as high as Rs 1,000, much ahead of listing.

However, with the market turning choppy, which has already led to shelving of two major IPOs last week, put the investors on tenterhooks as their worst fears came true by the close of the trading today.