By IANS
Mumbai : Reliance Power, which goes for the country’s largest public offering of over $2.75 billion Jan 15, will list on the bourses early February, chairman Anil Dhirubhai Ambani said here Friday.
“We are expecting to list the shares in the first week of February,” Ambani told a press conference here, after announcing the mega public offer where 30 percent of the shares are being earmarked for retail investors.
The offer closes Jan 18 and will be made in a band of Rs.405-450 per share. The net issue would constitute 10.1 percent of the post-issue paid up capital of the company.
Retail investors get a discount of Rs.20 per share.
While institutional buyers will have to pay 10 percent of the subscription money on application, retail investors will have to pay Rs.115, which is around 25 percent of the issue price, Reliance Power officials said.
The red herring prospectus for the offer of some 260 million shares has already been filed with the regulators for the issue, Ambani said. He also ruled out a pre-placement of shares ahead of the public offer.
Ambani said the company would take up power projects by setting up subsidiaries, adding the energy source will not be limited to coal and gas, but will also use wind and nuclear power.
Reliance Power, which is an associate of Reliance Energy, was recently awarded the 4,000-MW Krishnapatnam power project, with the lowest bid for a tariff of Rs2.33 per unit among all qualified bidders.
Company officials said it is currently developing 12 power projects with a total planned installed capacity of 24,200 MW to constitute among the largest portfolios of power generation assets under development in the world.
Another major project includes the 4,000-MW Sasan power project in Madhya Pradesh.