SEBI approves Reliance Power's IPO

SEBI to do some homework and give some final ruling and SEBI has also responded for that now .Sebi has stated that there is a lock in of five years for the promoters i.e 5 years from the date of allotment, So may be this will taken as a positive statement by ADAG Reliance Group and they might go ahead with the IPo in the coming month

Reliance Power Limited (RPL) is subsidiary of Reliance Energy Limited. RPL is currently developing 12 medium and large sized power projects with a combined planned installed capacity of 24,200 MW across various geographic locations in India. Money raised through this IPO will be used for these projects.

This IPO will constitute 11.5 per cent of the company’s equity capital. It includes a promoters’ contribution of 16 crore equity shares which would be allotted at the IPO price. The net issue will constitute 10.1 per cent of the post-issue paid-up equity capital of the company and 12 power generation projects currently under various stages of development.