Reliance Energy scaled to 52 week high of Rs 1189 today and at 1.14 pm the stock is trading at Rs 1,166.10 ,up Rs 48.95 or 4.38%.
The market sources are speculating that Reliance Energy is soon going to file DRHP with SEBI for Reliance Power IPO through which it is likely to raise around USD 2.5-3 billion. News is also that the company has fixed Book running lead managers as Kotak Mahindra Capital and JM Financials Ltd.
Reliance Power is a 51% subsidiary of Reliance Energy with an outstanding order book estimated at Rs 5000 crore. Reliance Power has recently bagged the Sasan Power Project from the Government and is also looking to bid for more Power Projects.
Reliance Energy shares closed yesterday at Rs 1117.25 up 8.87%.
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