Reliance Power Limited, from the house of Reliance Energy (NYSE: BOM:500390) and Reliance Anil Dhirubhai Ambani Group has filed a draft prospectus for an initial public offering (IPO) of 1.3 billion shares with the Securities and Exchange Board of India.
Assumed to be the largest issue in India after DLF, Reliance Power, is aiming to raise between $2 billion to $3 billion The share at per value for Rs 2 (five cents) will debut on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). 
Reliance Power group will contribute 160 million shares while reducing the net issue to the public to to 1.14 billion shares.
It is believed that the founders will subscribe to those 160 million shares at the issue price, which will be decided through book building.
UBS Securities, Kotak Mahindra, Deutsche Equities India, ABN Amro Securities, Enam Securties, JM Financial, ICICI Securities and JP Morgan India are the book running lead managers to the issue.
Please let me know if Reliance Power Ltd Share will be offered to Reliance Energy ltd share holders on prefriential basis or rights basis , await your comment.
Pratim
Posted by: Pratim Bhatt | October 4, 2007 9:50 AM | Permalink to Comment