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.
| Issue Open | Feb 19, 2008 - Feb 22, 2008 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 156,120,000 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 Lot | 60 Shares |
| Min Order Quantity | 60 Shares |
| Listing At | BSE, NSE |
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 60 | ₹6,300 |
| Maximum | 31 | 1860 | ₹195,300 |
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 | |
| Listing Date | Wednesday, March 12, 2008 |
| BSE Script Code | 532955 |
| NSE Symbol | RECLTD |
| Listing In | B |
| ISIN | INE020B01018 |
| Issue Price | ₹105 Per Equity Share |
| Face Value | ₹10 Per Equity 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
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 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.
The REC IPO opens on Feb 19, 2008 and closes on Feb 22, 2008.
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.
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.
REC IPO lot size is 60 Shares and the minimum order quantity is 60 Shares.
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Can Any body have an idea abt any short term target of REC.