Indians are blind and mad about the Reliance brand. At a time when the Western world is increasingly protesting against Dirty Coal Plants, Anil Ambani’s Reliance Power wants to establish half a dozen such coal plants in India, making our lives a HELL. Google board member, John Doerr is willing to fund any alternative energy that can shut down coal plants. Anil Ambani must sacrifice his greed [to beat Mukesh Ambani’s Wealth] which he has carefully put across Indians as Roti, Kapda, Makaan aur Power/Bijli and cheating the Indian investor by raising Rs 11,000 crore.
Dirty Promoters Quota Allotment for Dirty Energy Plans:
Reliance Power’s Dirty and Unethical Promoters have 45% plus allotment of shares at mere Rs 17 / share when the rest of the Indians are being cheated by being given at Rs 430-450.More facts on How Anil Ambani is Unethical by allotting Reliance Power shares at Rs 17 [PDF]
Read our exclusive coverage demanding an independent probe on Reliance Dirty Power IPO.
Valuations:
It is being offered at 110 P/E for FY2010 earnings. LOL This is how stock market bubbles are formed, if you are new to this market.
Recommendation:
The market momentum coupled with dirty tactics from Ambani is with them. You can apply for listing gians only. But allotment will be in lottery due to the public euphoria. Remember the SMS that was circulated when Reliance Mobile was launched ? Mera Papa Ka Sapna, Sab Ka Maal Apna 😉 However, we are not subscribing to the IPO due the facts justified above.