MUMBAI: Reliance Power, a subsidiary of Anil Ambani group company Reliance Energy (REL), is considering an initial public offering (IPO) to raise about Rs 11,000 crore to fund the ultra mega power projects in Sasan and Rosa. Sources said the company is likely to file a draft red herring prospectus soon.
For the Sasan and Rosa projects in UP, Reliance Power needs almost Rs 21,000 crore, which covers the cost for engineering, procurement and construction (EPC) equipment purchase and technology hiring.
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Saturday, September 29, 2007
Reliance Power plans IPO to raise around Rs 11K cr
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