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Reliance Power IPO ready for listing

December 17, 2008 · Filed Under Videos · Comment 

The Reliance Power initial public offering (IPO) is ready to hit the street on January 15 in a price band of Rs 405 to Rs 450. Each share has been priced at Rs 405 at the lower end and Rs 450 at the upper end of the band. The company plans to offer the retail investors or those applying for Rs 1 lakh will get a 5 per cent discount.

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Reliance Power IPO to list in early Feb

December 17, 2008 · Filed Under Videos · Comment 

Emotions, high energy and a hard sell all intact as Anil Ambani hits the press once again, the marathon runner is in an all talk mode about the country’s largest public offering. Reliance Power Ltd, the Anil Dhirubhai Ambani Group (ADAG) firm, is set to hit the capital market by early next month, raising close to $3 billion in the country’s largest initial public offering.

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Reliance Power lists, slips below offer price

December 17, 2008 · Filed Under Videos · Comment 

There was disappointment for retail investors as Anil Ambani’s Reliance Power IPO slipped below its issue price soon after it listed. The listing began after Anil Ambani rang the opening bell at the Bombay Stock Exchange.

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RIL to raise funds via NCDs for expansion

December 16, 2008 · Filed Under Videos · Comment 

Reliance Industries chairman Mukesh Ambani is a man in a hurry with huge expansion plans in exploration, refining, petrochemical and retail over the next two months.Though it is difficult to raise cash in today’s risk adverse market, but like many of its peers, Reliance too has got assistance from the country’s largest insurer, LIC, to tide over the current cash crunch.

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Anil Ambani: All set for Hollywood

December 16, 2008 · Filed Under Videos · Comment 

Anil Ambani group firm Reliance Big Entertainment made its foray into Hollywood with the announcement of development deals with celebrities, including Angelina Jolie, Julia Roberts, Brad Pitt and Nicolas Cage, at Cannes. Reliance Big Entertainment, the media and entertainment company of the Reliance ADA Group, said that it will provide development funds to eight Hollywood production houses.

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No Change In Rules: IRDA

December 16, 2008 · Filed Under Videos · Comment 

The big names in India Inc, from Reliance to Tata Steel, Larsen & Tourbo and Mahindra & Mahindra, were all relying on the Life Insurance Corporation (LIC) to raise rupee debt via non-convertible debentures, since equities got devalued and overseas debt became expensive. There was pressure on the insurance regulator, IRDA to allow LIC to invest more aggressively in these corporate debt instruments.

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RCom criticises spectrum allocation

December 16, 2008 · Filed Under Videos · Comment 

Anil Ambani-promoted Reliance Communications (RCom) on Wednesday lambasted the department of telecommunications (DoT) for its decision to follow the regulator’s method for allotting spectrum or airwaves to operators. “DoT succumbs to private GSM operators’ pressure tactics. Concessions to GSM operators are unnecessary and unwarranted,” said Gaurav Wahi, spokesperson of RCom, in a statement in New Delhi.

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Iraq threatens to blacklist RIL

December 16, 2008 · Filed Under Videos · Comment 

Iraq threatened to blacklist India’s Reliance Industries (RIL) from future oil contracts after the company struck a deal with the Kurdish regional Government for two blocks without Baghdad’s approval.”Our position is very clear. Any company that signs contracts with the Kurdish Regional Government without approval of the central government, they will compromise chances of getting future opportunities in Iraq,” Iraq Oil Minister Hussain Al-Shahristani said.

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Mukesh Ambani’s new gameplan

December 16, 2008 · Filed Under Videos · Comment 

Trust India’s biggest private company, Reliance Industries, to play such a googly which will ensure that its gas is not given away to Anil Ambani’s power projects and also help it raise more money from markets. That is because the upstream regulator has approved its plan to offload 80 per cent of its stake in the D6 block to four affiliates. With the DGH’s stamp on transfer of 80 per cent of RIL’s interest in the D6 block to four smaller affiliates all the doors have opened for Mukesh Ambani.

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RCOM’s GSM plans on hold?

December 16, 2008 · Filed Under Videos · Comment 

The existing GSM players want Reliance Communication to enter into a new interconnection agreement with them. This will ensure that a call from a Reliance phone reaches the intended receiver who may be using an Airtel phone. For this to happen both companies have to sign an agreement under which Airtel allows the Reliance call to enter and travel on its network.

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