Reliance Power (R-Power) today said it would seek shareholders’ approval for raising more funds, via share sale to institutions or by issuing securities overseas, after spending half of the Rs 11,600 crore raised in the country’s biggest initial public offer (IPO) in 2008. R-Power, a part of Reliance Anil Dhirubhai Ambani group, would consider a share sale to institutions for up to 15 per cent of the equity capital and an overseas securities issue for up to 10 per cent of the equity, the company said in a filing to the National Stock Exchange. At the current valuations, the company would raise around Rs 9,000 crore. The promoter holds 84.8 per cent in the company. The proposed issue of securities may be made in one or more tranches, according to the company. As of June 30, R-Power had spent Rs 5,997.6 crore of the IPO funds, said the company. […]