Reliance Power announced its IPO plans in Mumbai. It is likely to be listed in Feb and aims at raising close to USD three billion.
Supreme Court has put a halt to proceedings against RPL in the Gujarat high court, following a PIL filed against Reliance Power's upcoming IPO.
The company wants 'economic restitution' due to rupee depreciation and changes in law.
But company says govt decision to permit use of incremental coal does not result in any loss to exchequer or undue benefit.
A bench headed by Chief Justice K G Balakrishnan posted the matter for hearing on January 29 as some of the farmers had filed a caveat and were given the opportunity to contest the appeal filed by Reliance Power Ltd.
Reliance Power Ltd, part of the Reliance Anil Dhirubhai Ambani group, is in talks with five leading global power companies to sell 15 per cent equity stake in the company. Preliminary talks have started with three Chinese power companies, which include China Light and Power Holdings, and French and Canadian companies.
The court, which quashed the emergency powers invoked by the state for land acquisition, also asked the state to invite objections from land owners.
The Reliance Dhirubhai Ambani Group revealed plans of venturing into the power equipment business.
The power sector has been notorious for missing capacity addition targets and it remained just that in 2008.
Sasan Power Ltd, the special purpose vehicle floated by Power Finance Corporation for the 4,000 MW project, will on Wednesday issue the Letter of Intent to Reliance Power Ltd.
The country's biggest IPO will close on January 18.
The Sebi order clears the hurdles ahead of the mega IPO of $2.5 billion to $3 billion, which is expected to hit the markets early next year.
Anil Ambani had given a personal guarantee to the loans given by SBI to Reliance Communications and Reliance Infratel in August 2016.
Core concerns in 5 villages that cover India's largest power plant.
One of the main factors that created a big hype for the R-Power initial public offer, said experts, was its grey market premium of over Rs 400 on January 18 -- the day the issue closed. R-Power collected a record $180 billion (Rs 710,000 crore or Rs 7,100 billion) as the issue was subscribed 72 times.
Reliance Power Ltd's public issue has so far generated demand for shares worth more than $179.5 billion (Rs 706,000 crore) as bids continued to pour in on the last day of the Anil Ambani Group firm's IPO.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
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