Reliance Power to be listed in early Feb

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Billionaire Anil Ambani said Reliance Power Ltd is likely to list on the bourses by early next month, after the country's largest initial public offer aimed at raising close to USD three billion.

"We are expecting to list in the first week of February," Ambani told reporters here while announcing the IPO plans for his group company Reliance Power Ltd.

Ambani denied any pre-IPO placement plans for selling stake in the firm. "There will be no pre-IPO placements, despite a number of requests for such deals," he said.

Ambani said he would have liked to offer 100 per cent of the shares to be sold in the IPO to retail shareholders, but could not do so due to regulations. "Unfortunately, only 30 per cent of the issue size could be offered to retail investors," he said.