Reliance Power to raise $2.5-3 billion through IPO

Reliance Energy to file DRHP for Reliance Power issue in next few days, according to sources. Kotak Mahindra Capital and JM Financial are lead managers to the issue. Reliance Power is likely to raise around $2.5-3 billion.

Management declined to comment on speculation. Management says, "Not the company''s policy to comment on rumours and speculation".

Reliance Power is a 51-per cent subsidiary of Reliance Energy. This company will execute the Sasan Power Project, which was recently allotted to Reliance Energy by the government.

Reliance Power is looking at projects with an aggregate capacity of 16 GW and its EPC business outstanding order book stands at Rs5,000 crore.