Reliance Anil Dhirubhai Ambani Group (ADAG) is looking to enter the area of power equipment production as part of its strategy to meet 'cost' challenges and timely execution of its power projects.

Replying to a query at a press conference here on Friday, ADAG Chairman Anil D.Ambani said, “We are considering to enter the area power equipment production as not only part of cost challenges but also to ensure timely delivery schedule of our projects."  

Responding to a related query at the road-show for the IPO of Reliance Power, Mr Ambani said "This venture shall neither be under Reliance Power nor Reliance Energy but under a different entity altogether."

Elaborating, he said the Group is currently in talks with global power equipment majors for possible joint venture.

To a query on the Group's intent to enter nuclear power sector, Mr Ambani said about 100 people from his Group have already been trained by Nuclear Power Corporation of India.   All the same, he said, the question of nuclear power involves so many crucial things including nuclear fuel supplies.  Besides, the very Atomic Energy Act itself needs an amendment for the private sector to have a majority control in those ventures.   

Biggest IPO

On the forthcoming Reliance Power IPO, Mr Ambani said the IPO will raise Rs 11,000 crore or more.   To a query on pre-IPO placement by the company, Mr Ambani said, “There will be no pre-IPO placements despite a number of requests for such deals.”   

The IPO will open on January 15 and close on January 18, will be sold  at a price band of Rs 405-450.  The IPO to issue 26 crore equity shares of Rs 10 each at a price to be decided through a 100 per cent Book Building Process.