Monday, January 25, 2010

REC Ltd FPO opening on Feb 19, 2010 to Feb 23, 2010,

REC is coming out with a a follow-on public offer (FPO) of 17,17,32,000 Equity Shares of Rs.10 for cash, at a premium to be decided through a 100% Book Built Issue. Rural Electrification Corporation Limited (REC) is one of the leading public financial institutions in Indian power infrastructure. They are engaged in the financing and promotion of transmission, distribution and generation projects throughout India.

REC provides funding to their clients and assist them in formulating and implementing various types of power project-related schemes. Clients include public sector power utilities at the central and state levels and private sector power utilities. Additionally, they fund power projects for their joint sector clients. Their financial products primarily include long-term loans, short-term loans, bridge loans and debt refinancing.

The issue opens on February 19, 2010, and closes for subscription on February 23, 2010. The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The book running lead managers of the issue are Kotak Mahindra Capital Company Ltd and DSP Merrill Lynch Ltd. Karvy Computershare Pvt Ltd is the registrar.

Detailed information is now available on REC Ltd FPO information page.


Rural Electrification Corporation Ltd FPO
REC Ltd FPO Allotment Status
REC FPO Listing Date