Exclusive news of Anil Ambani and Tata Group

By Vipin Agnihotri

As The India Street continues to grow in terms of readership, we are not relaxing. As a matter of fact, we are working doubly hard to give you exclusive news from the world of Indian business. Find below exclusive news of Anil Ambani and Tata Group. Hope you like it.

Anil Ambani to hit the market with Reliance Power IPO

According to highly placed sources, Reliance Power, which is the wholly owned subsidiary of Reliance Energy, plans to hit the bourses with an IPO this time. Anil Ambani is quite eager to raise about Rs 8 to 10 billion to fund its ultra mega power project of 4,000 MW at Sasan.

In my opinion, the developments have even seen Reliance Energy’s share prices brighten up. Company officials refuse to comment on the IPO development but one thing is for sure Reliance Energy appears to be in high spirits. It is worth mentioning in this regard that the project is expected to be completed in next five years and will provide electricity to Delhi, Rajasthan, UP and MP.

Tata Sons go shopping

In order to extend their enterprise, the giant conglomerate Tata Group’s holding company, Tata Sons, has acquired 8.01 per cent share in Pune based Praj Industries. Point to be noted here is that the promoters of Praj- Pramod Chaudhari and his family sold 13.42 million shares for a price of Rs 251 each to Tata Sons in a block deal.

However, the Chaudharis will remain the single biggest investor in the company, which is known to be the leader in the bio-fuel technology. Ever since one of the directors of Tata Group- Kishore Chaukar held a position at the board of Praj industries, there are rumors in Indian media regarding this possibility.

In my opinion, this clearly shows that Tata is interested in entering the distilleries and waste water industry, which is expected to experience big growth in the coming years.

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