Behind every billionaire there is a story!

Reliance IPO clears regulatory hurdle

India’s largest initial public offering, the planned listing of Reliance Power, has cleared one of its last regulatory hurdles and the stage looks set for another record year of capital-raising in the country in 2008.

The market regulator has dismissed an investor complaint against Reliance Power – an electricity generation company controlled by Anil Ambani, the billionaire businessman – allowing it to push ahead with its planned $2.5bn-$3bn listing within one to two months.  We are going to see a lot of paper coming to the market this year,” said Rajeev Mehrotra, co-head of investment banking at Edelweiss, a Mumbai-based investment bank. “There is a build-out happening in this country and within the infrastructure sector, you will find a lot of leaders emerging.”

read the rest published by FT here:

http://www.ft.com/cms/s/0/64235e14-b6f8-11dc-aa38-0000779fd2ac.html