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Wednesday, 20 February 2008

Reliance Power asks shareholders to make balance payment

Anil Ambani Group company Reliance Power on Wednesday said it has asked shareholders to make balance payment by February 26 on shares alloted to them in the IPO to be eligible for bonus shares.

"The balance amount was due on allotment and a notice for the same has been sent to shareholders to make the balance payment on or before February 26," Reliance Power said in a filing to the Bombay Stock Exchange.

By issuing the notice, the company has complied with SEBI guidelines, and all shares have been made fully paid up, Reliance Power added.

Reliance Power's IPO had offered a discount to retail investors, and an option of staggered payment to all segments.

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