Terming as "corporate warfare" the attempts to sabotage Reliance Power's IPO, Anil Ambani group on Wednesday said it would pursue all legal and other remedies to fight vested interests working against the biggest share sale in India's corporate history.

"We have already complained to Sebi... We are happy that justice has prevailed and these vested interests have failed," a Reliance-ADAG spokesperson said in a statement, while welcoming the interim stay given by the Supreme Court on the proceedings in Gujarat High Court on a petition filed against Reliance Power IPO.

Reliance-ADAG chief Anil Ambani had earlier said that though market regulator Sebi did not respond to the company's complaints, it had cleared the IPO.

In its complaint, the group had named over a dozen top officials and associates of Mukesh Ambani-led Reliance Industries [Get Quote] and alleged that they were sabotaging the IPO.

Aiming to raise up to Rs 11,700 crore (Rs 117 billion), the Reliance Power IPO will hit the market on January 15 and close on January 18.

"In the last few weeks, as we have been saying, there have been concerted attempts to sabotage the IPO, the biggest in Indian market's history for creating crucial power sector infrastructure in the national interest," the Reliance-ADAG spokesperson said in the statement.

This is the first ever IPO from the Anil Ambani group, since it came into existence on June 18, 2005 after a settlement was reached between the Ambani brothers for dividing the erstwhile Reliance empire.

Reliance Power is offering 26 crore (260 million) equity shares in the public issue, which will constitute a 10.1 per cent post-issue share capital of the company. It has fixed the price band at Rs 405-450 per share and a listing at even the lower price band would give it a market capitalisation of more than Rs one trillion (Rs 1,00,000 crore) while placing it among the top 20 most valued companies in the country.

"There have been frivolous complaints to the government, regulator and other authorities as also false and motivated litigations. This is a glaring example of corporate warfare," the group said.

Soon after the Supreme Court decision on Wednesday, the spokesperson said: "We are happy that justice has prevailed and these vested interests have failed miserably. We have also complained to SEBI in the past about vested interests trying to sabotage the IPO."