Reliance Power Limited IPO Message Board (Page 350)

plz sent price band of these ipo

please send me any news reliance power ipo & what is price band

ADAG seeks SEBI probe into campaign against Reliance Power IPO
24 Oct, 2007, 1701 hrs IST, PTI
NEW DELHI: The Anil Ambani group on Wednesday asked market regulator SEBI to probe a "disinformation campaign" launched by some "vested interests" against the planned Reliance Power IPO, estimated to raise up to Rs 12,000 crore.

"A formal complaint has been filed with SEBI to investigate the disinformation campaign launched against Reliance Power IPO," a Reliance ADA group spokesperson said in a statement.

"The suspects behind the disinformation campaign too have been named in the complaint filed with SEBI," the spokesperson said.

The call for probe comes a day after the group refuted allegations by 'REL Investors Forum' that the planned IPO of Reliance Power will erode the value for REL shareholders.

Reliance Power plans to come out with an IPO of 160 crore shares to part-finance 12 proposed power projects envisaging an estimated investment of nearly Rs 100,000 crore. The IPO is being pegged as the biggest ever in India with total proceeds of about Rs 12,000 crore.

Yesterday, a Reliance ADAG spokesperson had said that it was awaiting SEBI nod for the IPO even as some "vested interests" were trying to stall it.

The official said attempts were being made to engineer motivated litigation and the "campaign was motivated by frustration at continuing success and rising valuation of ADA Group".

The spokesperson said forged letters by Members of Parliament based on false and baseless allegations were also part of the vicious campaign.

i think the price bend is around 70 to 80 ?

any one tell me about the date of rpl ipo

Hallow Everybody
My question is
IPO - RPL & Mundra Port
What is the date of open and close?
Pl. tell me about both
And
Which is the best potential and the best

JVG Bapiraju

Hello All of u....
I m Manish I need ur Help ..
I m New in this Stock Market...
Please u tell me about Reliance Power IPo...and any other also....

All the talk about the MP's sending notice to the alledged fraud committed by the ADAG was termed as mere conspiracy by the ADAG group.... RPL is all set to roll out its issue as scheduled....
- NDTV profit

REL investors worried over Reliance Power IPO
23 Oct, 2007, 1608 hrs IST, PTI
NEW DELHI: An association of investors in Anil Ambani-led Reliance Energy on Tuesday alleged that the planned IPO of group company Reliance Power will erode the value for REL shareholders, but ADAG termed it as a "vicious campaign" by vested industrial interests.

"A close study of draft prospectus reveals that the power generation business opportunities secured in the name of REL and secured with the strength of REL have been transformed to RPL by means of some internal MoUs and understandings," REL Investors Forum said in a faxed press release.

"The shareholders of REL have been deprived of the entire power generation business prospects to be accrued to them. By means of such a transfer of business and creation of another shell company to issue public shares, now the power generation profits will accrue to the new company in which Anil Ambani holds 50 per cent."

Investors in REL are feeling cheated with ADA group company RPL's proposed public issue, it noted.

When contacted, REL Investors Forum Secretary 'Veekay', whose name was mentioned on the release along with two other persons - Prakash Krishnan and Anil Upadhyaya - said that the forum members include 60-70 shareholders of REL.

"We are looking at taking legal recourse to safeguard the interest of REL shareholders," Veekay said, adding the forum was also writing to other shareholders to join the campaign.

However, a Reliance ADA Group spokesperson said in a statement, "Vicious campaign of disinformation (is) underway by vicious industrial interests to stall Reliance Power IPO."

The spokesperson said attempts were underway to engineer motivated litigation and the "campaign was motivated by frustration at continuing success and rising valuation of ADA group".

Reliance Power's IPO was awaiting SEBI approval in normal course, the official added.

When asked to comment on ADAG's view that the campaign was being promoted by some vested industrial interests, the forum secretary denied any links to any rival of the group.

"We have not been approached by any group... it's just an initiative of REL shareholders," he said, when asked whether they have been contacted by rivals.

The Reliance ADA group spokesperson said that forged letters by Members of Parliament based on false and baseless allegations were also also part of the vicious campaign.

The forum said in its press release that the new company being created had no resources for executing projects and was dependent on REL for technical, manpower and commissioning support as well as for guarantees for raising finances.

"The Anil Ambani group is planning to charge a huge premium from the public for the Reliance Power shares, but ADAG's investment companies and REL have been alloted 210 crore shares at face value of Rs 2 per share and only 16 crore shares will be alloted to the promoters at the same price as the public," it added.

Reliance Power proposes to come out with an IPO of 160 crore shares to part fund 12 power projects envisaging an investment of nearly Rs 100,000 crore. The IPO is being pegged as the biggest ever in India with a total estimated proceed of about Rs 12,000 crore.

please let me know the bid price of the issue and also when the bid will hit market, there is a rumor that the issue has postponed; is it true rumor or false, is the promotors will give any prefrential offer to the shareholders of the ANIL AMBANI GROUP. or any discount is offered to the retail applicants

power ipo will open on 10th nov.is dis true?

can anyone tell me what is the final conclusion of rel power ipo it is coming or not

please let me know the bid price and also date of bid opening

Hi all...As per saturday's Economic times....Lead Managers of REL Power have rejected all the rumours saying REL Power IPO got postponed....so wait n watch for this IPO as it will hit the market in November..

Independent probe urged into Reliance Power IPO

Eminent people, including members of Parliament, economists and jurists, have demanded an independent probe into the flouting of SEBI guidelines by the promoters of Reliance Power.

In letters to the Finance Minister, Company Affairs Minister, SEBI Chairman, CBI Director and the Commissioner Central Vigilance Commission, the eminent persons have charged that the Reliance Promoters were committing an alleged fraud on the would be investors in the public issue of the company to enrich themselves at the expense of gullible public.

They alleged that the SEBI guidelines have been subverted in a planned and scheming manner for the IPO for which a draft prospectus has been filed.

In a letter to the Company Affairs Minister, Baleshwar Yadav, a Member of Parliament, has said that the promoters of the company had allegedly violated clause 3.7.1 (i) of SEBI’s existing guidelines.

He said the guidelines say that if the issue price was less that Rs 500 per share, the face value shall be Rs 10. “Going by the above rule, Reliance Power cannot issue share at a price below Rs 500 per share.”

Yadav said the prospectus does not mention anything about the company having applied to SEBI for an exemption from clause 3.7.1 to fix the issue price below Rs 500 per share. “if the company has made any application to SEBI it should have been disclosed in the prospectus.”

He said “non-disclosure of this fact misleads the public in believing that the company will raise a minimum of Rs 65,000 crores out of the issue of 130 crore shares.”

He said the SEBI should enquire into the whole question and the necessity for Reliance Power to sub-divide the Rs 10 face value share to Rs 2 face value shares on September 30 by convening an extra-ordinary general meeting.

Dr Shailender Sharma of the Society For Economic Awareness, a prominent NGO, said that the promoters -- Anil Ambani and Reliance Energy -- of Reliance Power have flouted SEBI guidelines under clauses 4.1.1; 4.6.1; 4.6.2; and 4.6.4 and asked the authorities to disapprove the Reliance Power’s public issue.

While seeking the intervention of the Department of Company Affairs and SEBI, Dr Sharma demanded a direct investigation in the case by either the CBI or the CVC.

In a letter to the Finance Minister and SEBI Chairman, Justice T S Doabia (Retd) said the promoters of the company have reportedly flouted guidelines and have not invested their own money to avoid the same risks as the prospective investors.

Justice Doabia said the approval of the IPO would be not only set up dangerous precedent but would also be to the detriment of the future investors

Dear friends ... The Ministry of Company Affairs (MCA) is likely to refer the complaints received on the proposed initial public offering of the Anil Ambani Group company Reliance Power Ltd to the capital market regulator, Securities and Exchange Board of India.

Shareholder value

Official sources told Business Line that the Ministry has received representations from various quarters including some Members of Parliament alleging that the proposed IPO would destroy shareholder value of the parent company Reliance Energy Ltd (REL), which is a listed entity.

“Since the company has already filed its draft red herring prospectus with the capital market regulator, the Ministry is not directly involved. However, in order to ensure that the regulatory norms including those prescribed under the Companies Act are not flaunted, the Ministry is taking necessary precautions,” sources said.

violation

Earlier this month, Reliance Power filed its draft red herring prospectus with the SEBI. According to the complaints, the proposal to transfer all projects from REL to Reliance Power has not been taken to the shareholders of Reliance Energy.

“The projects have been transferred under the agreement of September 14, 2007. This is highly irregular and is in clear violation of Section 293 (1) (a) of the Companies Act,” it has been alleged.

As per the Section, the board of directors of a public company cannot transfer any undertaking of the company without the consent of shareholders.

Credit Rating

Meanwhile, a spokesperson of REL refuted the charge that there is any irregularity in the company having transferred these power generation projects to its group company Reliance Power for execution by it. These projects have been conceived a long time ago and it was the decision of the independent members of the Board of Reliance Energy some time in 2004 that REL’s exposure to these projects be restricted to 50 per cent, he clarified.

Indeed, he added, the decision predates even that of the restructuring of Reliance Industries as part of a settlement among members of the Ambani family, the promoters of Reliance Industries and other group companies.

Execution of projects

The decision was also vindicated by the fact that credit rating agencies had rated the company’s debt instrument at the highest level as the risks of execution of these projects was not on the books of Reliance Energy, he added.

hi,

relaince group stocks seens unwinding in F&O. get out of all reliance stocks

The issue has been delayed till January but I am sure that it will come back with a bang. Reliance has never dissapointed anyone. Wait & Watch...

how come to know that rpl has been canceled? koy to bolo!

Its good for retail investors that the DHRP has been rejected by SEBI, especially during the market downfall.

The IPO may be available even at cheaper price in the wake of this rejection. Let SEBI act like this in all the issues and not only during the market downfall period.