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REC FPO is a book built issue of Rs 3,530.04 crores.
REC FPO bidding started from February 19, 2010 and ended on February 23, 2010. The shares got listed on BSE, NSE on March 8, 2010.
REC FPO price band is set at ₹203 to ₹ per share. The minimum lot size for an application is 30 Shares. The minimum amount of investment required by retail investors is .
Bofa Securities India Limited, ICICI Securities Limited, Jm Financial Limited and Kotak Mahindra Capital Company Limited are the book running lead managers of the REC FPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to REC FPO RHP for detailed information.
| IPO Date | February 19, 2010 to February 23, 2010 |
| Listing Date | March 8, 2010 |
| Face Value | ₹10 per share |
| Price Band | ₹203 to ₹ per share |
| Lot Size | 30 Shares |
| Total Issue Size | 171,732,000 shares (aggregating up to ₹3,530.04 Cr) |
| Issue Type | Book Built Issue FPO |
| Listing At | BSE, NSE |
REC FPO offers 171,732,000 shares. 85,691,000 (49.90%) to QIB, 25,707,300 (14.97%) to NII, 59,983,700 (34.93%) to RII, 350,000 (0.20%) to employees. 1,999,456 RIIs will receive minimum 30 shares and (sNII) and (bNII) will receive minimum 0 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 85,691,000 (49.90%) | NA |
| NII (HNI) Shares Offered | 25,707,300 (14.97%) | |
| Retail Shares Offered | 59,983,700 (34.93%) | 1,999,456 |
| Employee Shares Offered | 350,000 (0.20%) | NA |
| Total Shares Offered | 171,732,000 (100%) |
Incorporated in 1969, 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.
REC have contributed to the development of rural India and India's agriculture through our funding of transmission and distribution projects in rural areas. For Fiscal 2009, more than half of their loan sanctions related to generation projects and generation-related loan assets currently comprise more than a third of their total loan assets. In September 2009, their mandate was further extended to include financing other activities with linkages to power projects, such as coal and other mining activities, fuel supply arrangements for the power sector and other power-related infrastructure.
As of September 30, 2009, they are one of only 18 India public sector undertakings to be granted �Navratna� status by the Department of Public Enterprise by virtue of our operational efficiency and financial strength. The GoI has rated their performance as �Excellent� continuously since Fiscal 1994.
The current offering (FPO) shall constitute 17.39% of the fully diluted Post Issue capital of the company and the Net Issue shall constitute 17.36% of the fully diluted Post Issue capital of the company. The government holding will be reduced to 66.80% post issue.
| Particulars | For the year/period ended (Rs. in Million) | |||
| 31-Mar-08 | 31-Mar-09 | 30-Sep-08 | 30-Sep-09 | |
| Total Income | 35,410.81 | 49,233.06 | 21,980.10 | 31,367.14 |
| Profit After Tax (PAT) | 9,655.87 | 13,780.14 | 6,136.21 | 9,290.57 |
Rec intends to utilise the funds being raised through the fresh issue to augment capital base to meet future capital requirements.
The REC FPO is subscribed 3.14 times on February 23, 2010 5:00:00 PM. The public issue subscribed 0.23 times in the retail category, 5.52 times in the QIB category, and 2.05 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 5.52 |
| NII | 2.05 |
| Retail | 0.23 |
| Employee | 0.85 |
| Total | 3.14 |
| Listing Date | March 8, 2010 |
| BSE Script Code | 532955 |
| NSE Symbol | RECLTD |
| ISIN | INE020B01018 |
| Final Issue Price | ₹203 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹203.00 |
| ₹230.00 |
| ₹225.05 |
| ₹244.30 |
| ₹241.85 |
| NSE |
|---|
| ₹203.00 |
| ₹237.70 |
| ₹230.00 |
| ₹244.60 |
| ₹241.45 |
Rural Electrification Corporation Ltd
Core 4, SCOPE Complex,
7, Lodhi Road,
New Delhi 110 003, India
Phone: +91 11 2436 5161
Email: FPO@recl.nic.in
Website: http://www.recindia.nic.in
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: rec.fpo@karvy.com
Website: https://kosmic.kfintech.com/ipostatus/
REC FPO is a main-board FPO of 171,732,000 equity shares of the face value of ₹10 aggregating up to ₹3,530.04 Crores. The issue is priced at ₹203 to ₹ per share. The minimum order quantity is 30 Shares.
The FPO opens on February 19, 2010, and closes on February 23, 2010.
Kfin Technologies Limited is the registrar for the FPO. The shares are proposed to be listed on BSE, NSE.
The REC FPO opens on February 19, 2010 and closes on February 23, 2010.
REC FPO lot size is 30 Shares, and the minimum amount required is .
You can apply in REC FPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for REC FPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the REC FPO allotment status.
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