In a bid to comply with the minimum public shareholding norms from SEBI, three promoters of Reliance Power will sell their 5.42% stake in the firm through Offer for Sale (OFS) on December 19. At the end of September 2012, promoters held 80.42% stake in R-Power.
Reliance Infrastructure, Reliance Innoventures and AAA Project Ventures will together sell more than 152.1 million equity shares, making up about 5.42% stake in the company.
Reliance Power is a part of the Reliance Anil Dhirubhai Ambani Group and is established to develop, construct and operate power projects domestically and internationally.
