REL board meets tomorrow for Reliance Power IPO

Anil Ambani Group Company Reliance Energy Ltd (REL) is expected to decide tomorrow for a public offer of up to $3 billion in its subsidiary Reliance Power as part of revenue generation for mega investment plans for setting up fresh power capacity .

The board of the Reliance Energy would meet tomorrow to "consider every opportunity for growth and unlocking of shareholders' value,'' the company said in a statement to the stock exchanges.

The meeting comes in the wake of reports that that the company was looking at an initial public offer of $2-3 billion (up to Rs 12,000 crore) shortly.