The government has found no evidence of rigging in the Initial Public Offer of Reliance Power by the promoters or merchants bankers, Finance Minister P Chidambaram said in Rajya Sabha on Tuesday.

“No evidence of rigging by promoters or merchant bankers has come to the notice of the government,” he said in a written reply to a query whether there was any rigging by promoters and merchant bankers in the IPO of Reliance Power, whose shares closed at a 17 per cent discount to the issue price on listing day on February 11.

To another related query, he said in view of the pricing regime in vogue, market regulator “Sebi is not investigating the alleged nexus in the matter.”

Replying to another question, Minister of State for Finance Pawan Kumar Bansal said the government has not made any assessment on the impact of recent stock market crash on the Indian economy or the investors.

Further, responding to a question on reasons behind the volatility in stock markets, Mr Chidambaram said the government does not try to manage or control volatility.

“The government’s endeavour is to build systems and practices and deepen and broaden markets which can withstand volatility. The government has put in place systems and practices to promote a safe, transparent and efficient market and to protect market integrity,” he said.