Reliance Energy (REL)  Company Profile

Reliance Energy (REL)  Company Profile

  • Posted by  FreshersWorld 
    7 Jan, 2012

    Reliance Infrastructure, formerly known as Reliance Energy and prior to that as Bombay Suburban Electric Supply (BSES), is a company under theReliance Anil Dhirubhai Ambani Group [1] banner, one of India's largest conglomerates. The company is headed by Anil Ambani. The company's corporate headquarters is situated in Sector 24, Noida. The company is the sole distributor of electricity to consumers in the suburbs of Mumbai. It also runs power generation, transmission and distribution businesses in other parts of Maharashtra, Goa and Andhra Pradesh. Reliance Energy plans to increase its power generation capacity by adding 16,000 MW with investments of $13 billion.

    Reliance Energy came into existence when it took over BSES in 2002.

    Reliance Infrastructure holds 44.96% of Reliance Power as on 31st December 2009. On January 15, 2008, Reliance Power attracted $27.5 billion of bids on the first day of its initial public offering (IPO), equivalent to 10.5 times the stock on offer, thereby, creating India's IPO record. The upper cut off price for the bid was Rs. 450. The proposed IPO was to fund the development of its six power projects across the country whose completion dates are scheduled from December 2009 to March 2014.

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