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Saturday, September 29, 2007

Reliance Power to raise $ 2.5-3 bn via IPO

Reliance Energy to file DRHP for Reliance Power issue in next few days, according to sources. Kotak Mahindra Capital and JM Financial are lead managers to the issue. Reliance Power is likely to raise around USD 2.5-3 billion.

Management declined to comment on speculation. Management says, "Not the company's policy to comment on rumours and speculation".

Reliance Power is a 51% subsidiary of Reliance Energy. This company will execute Sasan Power Project, which Reliance Energy got recently from government.

Reliance Power is looking at projects with an aggregate capacity of 16 GW and its EPC business outstanding order book stands at Rs 5,000 crore.

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