Reliance Power IPO to continue: SC

The Supreme Court today said the initial public offer of Reliance Power, slated to open on January 15, will go ahead even if any order is passed by any court in the country against the venture.

"The IPO of Reliance Power will continue despite any interim order passed against it by any court," a bench headed by Chief Justice K G Balakrishnan said.

Anil Ambani Group firm Reliance Power had mentioned a petition, pointing out that a person had filed a law suit in a Mumbai court to restrain it from coming out with its IPO.

The IPO is expected to be the country's biggest sale of shares and raise more than Rs 11,000 crore.