Reliance Power IPO on Track says ADA Group

Ruling out the wide spread market speculations and rumours about the Reliance Power IPO postponement, ADA Group has issued a statement that the Group has not changed the plans to postpone the Reliance Power IPO and is awaiting SEBI’s approval for its public offering.

Reliance Energy spokesman has said in a statement that there is a “vicious campaign of disinformation underway by vested industrial interests to stall Reliance Power’s IPO”.The campaign is motivated by frustration at continuing success and rising valuations of ADA Group,” he said.

Currently the company is waiting for the approval from SEBI for which it has filed its DRHP in the first week of October. Sources believe that Reliance Power is planning to launch pre-marketing campaign for its IPO from next week and the Reliance Power IPO Issue date would be around the last week of November or in the first week of December.

Reliance Power IPO will offer up to 30 percent of the shares to Retail Investors, with a further 10 percent going to high net worth individuals. Institutional investors will be offered 60 percent of the shares.

For more information regarding the Reliance Power IPO, Issue Date,Prospectus. do check our blog regularly. Reliance Power IPO would be the most rewarding IPO for the Indian Investors.