Reliance Power says no pre-IPO placement
The IPO was expected to hit the market late last year, but was delayed due to regulatory issues.
Last week, India's market regulator disposed off a complaint against the IPO, and directed the group's preferential quota in the offering be locked-in for five years from the date of allotment.
Reliance Power has reserved 32 million shares for allotment to the founders, making the total offering 260 million shares.
The Anil Ambani group was formed two years ago after he split with elder brother Mukesh, who controls India's top listed firm, Reliance Industries Ltd.
POWER PLAY
Analysts said India suffers huge power shortages with more than 400 million of its billion-plus people having no access to electricity.
"There is unlimited potential in the power sector," said Ambani, whose Reliance Energy supplies electricity to parts of Mumbai and New Delhi.
The International Energy Agency, which advises the world's developed countries on energy matters, recently said India needed investment worth $1.25 trillion in energy infrastructure by 2030.
Shares in stablemate Reliance Energy more than quadrupled in 2007, outpacing a 47.1 percent rise in the benchmark BSE index on a robust outlook for energy companies.
The shares have gained a further 17.6 percent since Dec. 31, even after ending down 0.3 percent at 2,510 rupees on Friday.
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