Reliance Power’s Public Issue to hit the market soon
Anil Ambani’s Reliance Energy Ltd. said that its subsidiary Reliance Power would announce its maiden issue soon. This initial public offering is expected to be the biggest of its kind in India. This will also be the first time after the split between the Ambani Brothers two years back that Anil Ambani is going to enter the capital market. The company is valued at around $11 billion and may offload around 15-35 per cent shares in the initial public offer, sources added. Let us have a look at what Ganesha has to say regarding this.
The company was incorporated on 17-01-95 as Bawana Power P. Ltd., name changed to Reliance Delhi Power P. Ltd. to Reliance E. Gen P. Ltd. to Reliance Energy Generation P. Ltd. to Reliance Energy Generation Ltd. to Reliance Power Ltd. with effect from 4th July 07.
Looking at Sun chart, there is Capricorn rising Ascendant. Saturn is posited in 2nd house. Jupiter is posited with Venus in 11th house. Rahu is in 10th house and Moon is in Cancer. Retrograde Mars is in Leo sign. Here Sun, Jupiter, Saturn and Venus are Vargottam planets. Ganesha feels that Transiting Jupiter will bring good amount of gain through Public Issue because it aspects on 7th house also which can lead towards good public faith. However, Saturn and Ketu are transiting over Mars in 8th house, which may bring sudden unexpected gain. This will make the issue larger than those of DLF and ICICI Bank.
Expected Time of IPO is Post Diwali, around 15th November, Labhpanchmi Day, which is considered to be the most auspicious day, especially in Gujarat. By having the date of listing, we can judge its price movement with time line.
Projects in Pipeline –
1) 7,480 MW Gas based power project at Dadri
2) 3,960 MW Coal based at M.P.
3) 2,800 MW Combined Cycle Gas Fired at Shahapur
4) 1,000 MW Hydro at Siyom.
5) 1,200 MW Hydro Kalai II
6) 700 MW Hydro at Tato17,140 MW
Major Projects may complete after 22 February 2008 as per planetary forces. Ganesha wishes all the luck to Anil Ambani and Reliance Power!
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With Ganesha’s Grace,