Rel Energy Board OKs IPO for Rel Power

Written by Agencies | Mumbai, September 30: | Updated: Sep 30 2007, 19:45pm hrs
Anil Ambani group firm Reliance Energy announced its subsidiary Reliance Power will go public soon.

"The Board approved that Reliance Power, a subsidiary of Reliance Energy, will undertake an initial public offer of equity shares," a company spokesperson said, immediately after a Board meeting chaired by Ambani.

Reliance Power would shortly approach market regulator SEBI with its draft prospectus (DRHP) for the IPO, he said.