REL meet to conisder IPO for Rel Power

Written by Agencies | Mumbai, September 29: | Updated: Sep 29 2007, 18:10pm hrs
Anil Ambani Group Company Reliance Energy is expected to decide tomorrow for a public offer of upto three billion dollars in its subsidiary Reliance power as part of revenue generation for mega investment plans for setting up fresh power capacity.

The Board of the Reliance Energy would meet tomorrow to "consider every opportunity for growth and unlocking of shareholders' value," the company said in a statement to the stock exchanges.

The meeting comes in the wake of reports that that the company was looking at an initial public offer of 2-3 billion dollars (upto Rs 12,000 crore) shortly.