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Dalal Street grapevine cannot stop talking about the proposed Reliance Power initial public offering, billed as the biggest so far for the domestic capital market.

The current buzz is that the offer would hit the market in the third week of this month. The street also has a take on the price range – between Rs 450 and Rs 480 per share of Rs 10 each. Reliance Power, an Anil Dhirubhai Ambani Group outfit, ha s proposed to offer 11.5 per cent stake in its draft before the market regulator, placed in October 2007.

Meanwhile, rating agency ICRA on Tuesday assigned IPO Grade 4, indicating above average fundamentals, to the proposed initial public offering of Reliance Power Ltd. “The grade assigned reflects the benefits arising out of being a part of the Reliance Anil Dhirubhai Ambani Group which has considerable experience across the value chain in the power sector and the expected cost competitiveness of most of the power projects in relation to the markets it proposes to serve,” ICRA said in a release.

Jayanta Mallick

More Stories on : Power | IPOs | Ear to the ground

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