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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.
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 Date | Feb 19, 2008 to Feb 22, 2008 |
| REC IPO Face Value | ₹10 per share |
| REC IPO Price | ₹90 to ₹105 per share |
| REC IPO Lot Size | 60 Shares |
| Issue Size | 156,120,000 shares of ₹10 (aggregating up to ₹1,639.26 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
The REC IPO lot size is 60 shares. A retail-individual investor can apply for up to 31 lots (1860 shares or ₹195,300).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 60 | ₹6,300 |
| Retail (Max) | 31 | 1860 | ₹195,300 |
The REC IPO is subscribed 27.76 times on Feb 22, 2008 5:00:00 PM. The public issue subscribed 7.68 times in the retail category, 39.30 times in the QIB category, and 27.12 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|
| Listing Date | Wednesday, March 12, 2008 |
| BSE Script Code | 532955 |
| NSE Symbol | RECLTD |
| Listing In | B Group of Securities |
| ISIN | INE020B01018 |
| IPO Price | ₹105 per share |
| Face Value | ₹10 per share |
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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
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: rec.ipo@karvy.com
Website: https://karisma.kfintech.com/
IPO Broker Recommendations
REC IPO is a main-board IPO of 156,120,000 equity shares of the face value of ₹10 aggregating up to ₹1,639.26 Crores. The issue is priced at ₹90 to ₹105 per share. The minimum order quantity is 60 Shares.
The IPO opens on Feb 19, 2008, and closes on Feb 22, 2008.
KFin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The REC IPO opens on Feb 19, 2008 and closes on Feb 22, 2008.
REC IPO lot size is 60 Shares and the minimum order quantity is .
You can apply in REC IPO 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, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.
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.
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Can Any body have an idea abt any short term target of REC.