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Rural Electrification Corporation Ltd. IPO (REC IPO) Detail

Feb 19, 2008 - Feb 22, 2008

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 currently administer grants and provide loans as the nodal agency for the RGGVY, which is primarily aimed at the electrification of all villages in India. REC provides loan assistance to SEBs/State Power Utilities for investments in rural electrification schemes through its Corporate Office located at New Delhi and 17 field units (Project Offices), which are located in most of the States.

The GoI has rated their performance as “Excellent” continuously from Fiscal 1994 through Fiscal 2006. They have also been ranked among the top ten public sector undertakings in India by the Ministry of Heavy Industries and Public Enterprises for Fiscal 2000, Fiscal 2002 and Fiscal 2005.

Objects of the Issue:

The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital to:
1. Primarily loan and investment portfolio;
2. Meet the future capital requirements;
3. Meet general corporate purposes;
4. Meet expenses of the Issue in order to achieve the benefits of listing on the Stock Exchanges.

REC IPO Details

Issue OpenFeb 19, 2008 - Feb 22, 2008
Issue TypeBook Built Issue IPO
Issue Size156,120,000 Eq Shares of ₹10
(aggregating up to ₹1,639.26 Cr)
Face Value₹10 Per Equity Share
Issue Price₹90 to ₹105 Per Equity Share
Market Lot60 Shares
Min Order Quantity60 Shares
Listing AtBSE, NSE

REC IPO Lot Size and Price (Retail)

ApplicationLotsSharesAmount (Cut-off)
Minimum160₹6,300
Maximum311860₹195,300

REC IPO Subscription Status (Bidding Detail)

REC IPO how much subscribed?

No. of Times Issue Subscribed (BSE + NSE)

As on Date & Time

QIB

NII

RII

Employee

Others

Total

Shares Offered

-

-

-

-

-

-

Feb 22, 2008 17:00

39.30x

27.12x

7.68x

0.94x

27.76x

REC IPO Prospectus

REC IPO Rating

1065
4.1
Rating:Rated 4.1 stars

Vote Here ...

REC IPO Listing Date

Listing DateWednesday, March 12, 2008
BSE Script Code532955
NSE SymbolRECLTD
Listing InB
ISININE020B01018
Issue Price₹105 Per Equity Share
Face Value₹10 Per Equity Share

Listing Day Trading Information

.
Issue Price
Open
Low
High
Last Trade
Volume
BSE
₹105.00
₹125.00
₹118.85
₹128.40
₹121.20
67,521,693
NSE
₹105.00
₹129.90
₹118.75
₹129.90
₹121.30
111,680,940

REC IPO Reviews / Ratings

SKP Securities - Subscribe.
R S Iyer (KR Choksey)- Apply.
Manish Bhatt - Apply.
SP Tulsian - Apply.
BusinessLine - Invest at cut-off.
Smart Investment - 48%(Attractive).
Keynote Capitals - Subscribe with a medium term view.
Bajaj Capital - Subscribe with a long term view.
Pranav Securities - Subscribe.
Emkay Research - Subscribe.
Hem Securities - Apply.
SPA Financial - Subscribe.

Company Contact Information

Rural Electrification Corporation Ltd.
Core 4, SCOPE Complex, 7,
Lodhi Road,
New Delhi 110 003,, India

Phone: + 91-11-2436 5161
Email: ipo@recl.nic.in
Website: http://www.recindia.nic.in

REC IPO Registrar

Karvy Computershare Private Limited
   Karvy Registry House, 8-2-596, St. No. 1,
   Banjara Hills, Hyderabad - 500 034
   Andhra Pradesh, India

Phone: +91-40-23312454
Email: rec.ipo@karvy.com
Website: https://karisma.karvy.com/

REC IPO FAQs

  1. 1. What is REC IPO?

    REC IPO is a main-board initial public offering of 156,120,000 equity shares of the face value of ₹10 aggregating up to ₹1,639.26 Crores.

    The issue price of the IPO is ₹90 to ₹105 Per Equity Share. The minimum order quantity is 60 Shares per application and the offer type is Book Built Issue.

    The IPO opens on Feb 19, 2008 and closes on Feb 22, 2008.

    Karvy Computershare Private Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

  2. 2. When REC IPO will open?

    The REC IPO opens on Feb 19, 2008 and closes on Feb 22, 2008.

  3. 3. How to apply for REC IPO?

    REC IPO application can be done through banks using ASBA online or through stock brokers trading account using UPI. All popular banks i.e. HDFC, ICICI, and SBI offer online IPO applications. An investor can also apply directly through their broker (i.e. Zerodha, Sharekhan) using UPI as a payment method.

  4. 4. When REC IPO allotment?

    The finalization of Basis of Allotment for REC IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the REC IPO allotment status.

  5. 5. When is REC IPO listing date?

    The REC IPO listing date is on Wednesday, March 12, 2008, at BSE, NSE.
  6. 6. What is the lot size of REC IPO?

    REC IPO lot size is 60 Shares and the minimum order quantity is 60 Shares.

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REC IPO Review / Comments

Rajasthan Royals
1321. Rajasthan Royals  May 19, 2008 18:09 I Like It. | Report Abuse
Very Bore Share...

Can Any body have an idea abt any short term target of REC.

Rajasthan royals
1320. Rajasthan royals  May 19, 2008 15:50 I Like It. | Report Abuse
Very Bore Share...

Can Any body have an idea abt any short term target of REC.
babu
1319. babu  Apr 14, 2008 16:47 I Like It. | Report Abuse
rec will cross Rs.200 mark in this month so keep investing and buying
Shakunthala
1318. Shakunthala  Apr 9, 2008 18:42 I Like It. | Report Abuse
Dear Sir/madam,

I have applied for the IPO of REC Ltd on 20-2-2008 by my mothr's name SHAKUNTHALA FOR ONE HUNDRED AND TWENTY (120) SHARES at cut-off price of Rs 12,600 (Rupess Twelve thousand six hundred only).

I have not been alloted shares and I did not receive my refund amount till now. Can I please know what is the status of my application and send my refund amount to the address mentioned in the application as soon as possible.

Following are the details of my application.

Name Shakunthala
Total no. of shares applied for 120
Total amount paid with application Rs. 12600.00
The cheque drawn on The Hotel Industrialist Co-op Bank Ltd. Bangalore.
R.S.Dhiman
1317. R.S.Dhiman  Apr 8, 2008 11:43 I Like It. | Report Abuse
When will I get refund in respect of my application no 41115616
R.S. Dhiman
1316. R.S. Dhiman  Apr 8, 2008 11:27 I Like It. | Report Abuse
I was alloted 81 shares of REC vide CAN No206537 against application no.41115616 but the amount of Rs54495 has not been refunded to me so far. Please credit the amount yo my account no 712 in Andhra Bank immediately with interest due.

REC
sanjeev goenka
1315. sanjeev goenka  Apr 4, 2008 15:50 I Like It. | Report Abuse
what is the one yr target of REC i have 81 shares allotted in IPO
TR
1314. TR  Apr 3, 2008 14:25 I Like It. | Report Abuse
LOOKING AT CHARTS THIS STOCK IS ROCK SOLID THIS STOCK CWILL GO ABOVE 200 WHEN MARKET GOES UP AND STABILISE
Smart Investor
1313. Smart Investor  Apr 3, 2008 00:55 I Like It. | Report Abuse
Six months Target is Rs.120/-.
(A profit of around 12% : Is the target frustating you???)

Just Kidding...........
If it is so easy to predict the target it will not lie at 100/-.

Just Hang on ........
You will not incur loss for sure ........

Happy Investing ..........
ak
1312. ak  Apr 2, 2008 15:21 I Like It. | Report Abuse
it is still fluctuating on 100 to 106. Can any body predict for 6 months target.
saifuddin zeenwala
1311. saifuddin zeenwala  Apr 1, 2008 20:27 I Like It. | Report Abuse
hi

i have not recieved refund of rural Electrification yet.

can any one plz help me how can i apply for refund
malleswari g
1310. malleswari g  Mar 31, 2008 16:53 I Like It. | Report Abuse
till now i did not received the payment.
i enquired with postal department, there is no pending letters
available in his desk for despatching.

kindly look the matter and make the arrangements for return the application money as early as possible other wise iam going make a compliant with SEBI

regds
Malleswari.g

Ref: vij/STAT/REC/5731/422026 Dt.: 20/03/2008

Dear Investor,

Unit : RURAL ELECTRIFICATION CORP. LTD
Application No: 51478652
Name : MALLESWARI G

We thank you for your e-mail with respect to your application made in the subject IPO. We have perused the record and regret to inform that your application was not successful in getting allotment of shares. A Refund Order for Rs.12600/- bearing No.196382 has been sent to you by registered post on 06-03-2008to the address available in your beneficiary account and we expect the same to be delivered during the course of next 2 to 3 days.

Please revert to us in case you need any clarification.

Kindly ensure to quote the application number in all future correspondence.



Regards,
Customer Care
Karvy Computershare Pvt Ltd




till now i did not received the payment.
i enquired with postal department, there is no pending letters available in his desk for despatching.

kindly look the matter and make the arrangements for return the application money as early as possible

regds
Malleswari.g
Govind
1309. Govind  Mar 31, 2008 15:55 I Like It. | Report Abuse
Hi,

I applied for 600 shares of REC recd. No shares have been alloted and no refund till today. I check my bank a/c twice daily and waiting for the refund eagerly.

My appln no. was 42926176.
Harish Arora
1308. Harish Arora  Mar 27, 2008 18:13 I Like It. | Report Abuse
Dear ,
My application number of rec allotment is 13733606.
our refund amt of rs 43575/- is not credit in our demat bank a/c.pls send demand draft for the same befor 30th march2008.
Rrgards
basudeb
1307. basudeb  Mar 25, 2008 01:22 I Like It. | Report Abuse
I applied for 600 shares of REC recd. 121 shares but yet to get any refund in ECS form.I check my bank a/c twice daily and waiting for the refund eagerly.It was one of the biggest mistake in applying for an IPO and i wont do that in future.

My appln no. was 71644087 through icici direct.
mmm
1306. mmm  Mar 24, 2008 21:46 I Like It. | Report Abuse
Targets r totally wrong. Nobody knows what will be tomorrow of stocks then how can we predict its future. And whatever shareking says is absolutely wrong. Even Finance Ministry does't know what is future of Indian Economy. Our economy is totally dependent on Foreing Mkts which is the worst
naveen gaur unicon
1305. naveen gaur unicon  Mar 24, 2008 12:42 I Like It. | Report Abuse
wht is future of REC?
shareking
1304. shareking  Mar 21, 2008 12:26 I Like It. | Report Abuse

3 months target 185
Ashish Chandra
1303. Ashish Chandra  Mar 20, 2008 16:38 I Like It. | Report Abuse
This message is for all the people who invested in REC IPO and did not receive their refund, please do check into your bank accounts because these Karvy people have send all the refund by ECS ie Electronic Clearing System. So please do have a look in your bank accounts.
Bye
kanchan
1302. kanchan  Mar 20, 2008 16:18 I Like It. | Report Abuse
Dear Sir,

I have applied in Rural Eleectrification Corporation ltd (REC) IPO and till date i have not recieved the refund order/Direct Credit in my bank account. Inspite of my repeated mails, i have not recieved any reply/refund from your side. Request you to please help me in getting refund/direct credit my account of the refund money along with the delayed interest at the earliest.

The details of the application are:


Aplication no 52992913
APPLIED FOR : 60 SHARE





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