The Supreme Court today said the initial public offer of Reliance Power Ltd, slated to open on January 15, will go ahead even if any order is passed by any court in the country against the venture.
The IPO of Reliance Power Ltd will continue despite any interim order passed against it by any court," a Bench headed by Chief Justice K G Balakrishnan said.
Anil Ambani Group firm Reliance Power had mentioned a petition, pointing out that a person had filed a law suit in a Mumbai court to restrain it from coming out with its IPO.
The IPO is expected to be the country's biggest sale of shares and raise more than Rs 11,000 crore.
Ahmadabad: Anil Ambani group’s Reliance Power plans a foray into foreign countries for power generation. “I do not believe (that) India alone will be our domain,” Reliance Power chairman Anil Ambani told reporters here today while announcing the company’s initial public offer, aimed at raising close to $ 3 billion, the country’s largest IPO. “We are hoping that the Singapore government will soon allow private partnership in power generation. We also want to have presence in the west Asian countries,” Ambani said.
