The FPO opens on February 19, 2010 and closes on February 23, 2010. The FPO consists of a fresh issue of 128,799,000 equity shares by the Company and an offer for sale of 42,933,000 equity shares by the President of India, acting through the Ministry of Power, Government of India.
The FPO comprises a net issue of 171,382,000 equity shares to the public and a reservation of 350,000 equity shares for subscription by eligible employees.
REC is engaged in the financing and promotion of transmission, distribution and generation projects throughout India.
India
REC FPO Floor Price fixed at Rs. 203 per equity share
Special Correspondent - 2010-02-18 17:10
Rural Electrification Corporation Limited (REC), a 'Navratna' public financial institution in the power infrastructure sector, has fixed the Floor Price at Rs. 203 per equity share for the further public offering (FPO) of 171,732,000 equity shares of face value of Rs. 10 each for cash at prices determined through the Alternate Book Building method under Part D of Schedule XI of the Securities and Exchange Board of India Regulations, 2009. Bids can be made for a minimum of 30 Equity Shares and in multiples of 30 Equity Shares thereafter.