Be it Anil Ambani Group's Reliance [Get Quote] Power or retail baron Kishore Biyani's Future Capital, their plans to hit the capital market with IPOs will have to wait till 2008 along with about four dozen other companies.

Although this year has been good for IPOs with over 100 deals, including some mega public issues like that of DLF, as many as 50 companies that initiated their public issue process this year are still awaiting the necessary regulatory approvals.

This includes the planned IPO of state-run National Hydroelectric Power Corp (NHPC), which filed its draft red herring prospectus over eight months ago in April and is among the longest pending public issues for the year.

Other high-profile IPOs in the queue are that of Reliance Power, which filed its DRHP on October 3 with market regulator SEBI. The regulator is currently awaiting "clarifications" from the IPO's lead managers for issuing its observations, which are statutory requirements to go ahead with the public issue.

Reliance Power is being touted as India's biggest ever IPO with an estimated size of over $3 billion, surpassing just over $2 billion raised by DLF. This would be the first ever IPO from Anil Ambani group after being carved out from the erstwhile Reliance empire in 2005.

Besides, Biyani-led Future Group had also filed the draft prospectus for its financial services arm Future Capital about three months earlier and is still under the process.

Other proposed IPOs that would not be able to hit the market this year include that of real estate major Emaar MGF Land, Oil India, Titagarh Wagons, Gammon [Get Quote] Infra Projects, Surya Foods and Rural Electrification Corporation (REC).