Sebi to probe complaints on Rel Power initial float

The government today said it has referred a large number of complaints against the upcoming initial public offering of Anil Ambani group firm Reliance Power to market regulator Sebi for necessary action.

"Copies of complaints have also been forwarded to the Ministry of Corporate Affairs," Minister of State for Finance Pawan Kumar Bansal told Lok Sabha in a written reply.

The company is currently awaiting a go-ahead from Sebi on its draft red herring prospectus for its IPO that could raise up to Rs 12,000 crore.