Reliance Petroleum files for IPO

Reliance Petroleum, a group company of Mukesh Ambani controlled Reliance Industries, on Monday filed the red herring prospectus with market regulator SEBI for its about Rs 6,000 crore (Rs 60 billion) IPO slated for April.

The IPO proceeds will be used to part-finance the company's Rs 27,000 crore (Rs 270 billion) project in Jamnagar.

Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Discussion Group.