Rural Electrification Corporation Ltd. IPO (REC IPO) Detail

February 19, 2008 - February 22, 2008

REC IPO is a book built issue of Rs 1,639.26 crores.

REC IPO bidding started from February 19, 2008 and ended on February 22, 2008. The shares got listed on BSE, NSE on March 12, 2008.

REC IPO price band is set at ₹90 to ₹105 per share. The minimum lot size for an application is 60 Shares. The minimum amount of investment required by retail investors is ₹6,300.

ICICI Securities Limited, Il&Fs Investsmart Securities Ltd and SBI Capital Markets Limited are the book running lead managers of the REC IPO, while Kfin Technologies Limited is the registrar for the issue.

Refer to REC IPO RHP for detailed information.

REC IPO Details

IPO Date February 19, 2008 to February 22, 2008
Listing Date March 12, 2008
Face Value ₹10 per share
Price Band ₹90 to ₹105 per share
Lot Size 60 Shares
Total Issue Size156,120,000 shares
(aggregating up to ₹1,639.26 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE

REC IPO Reservation

REC IPO Lot Size

Investors can bid for a minimum of 60 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 60 ₹6,300
Retail (Max) 31 1860 ₹195,300
Lot Size Calculator

About Rural Electrification Corporation Ltd.

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 (REC IPO Objectives)

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 Subscription Status (Bidding Detail)

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)

CategorySubscription (times)

REC IPO Prospectus

REC IPO Rating

Rating:Rated 4.1 stars
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REC IPO Listing Details

Listing Date March 12, 2008
BSE Script Code 532955
ISIN INE020B01018
Final Issue Price ₹105 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

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REC IPO Contact Details

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

Kfin Technologies Limited

Phone: 04067162222, 04079611000
Email: rec.ipo@karvy.com
Website: https://kosmic.kfintech.com/ipostatus/


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 February 19, 2008, and closes on February 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 February 19, 2008 and closes on February 22, 2008.

REC IPO lot size is 60 Shares, and the minimum amount required is ₹6,300.

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, Nuvama, 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.

The REC IPO listing date is on March 12, 2008.
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1321. Rajasthan Royals |   Link |May 19, 2008 5:09:38 PM
Very Bore Share...

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

1320. Rajasthan royals |   Link |May 19, 2008 2:50:30 PM
Very Bore Share...

Can Any body have an idea abt any short term target of REC.
1319. babu |   Link |Apr 14, 2008 3:47:17 PM
rec will cross Rs.200 mark in this month so keep investing and buying
1318. Shakunthala |   Link |Apr 9, 2008 5:42:21 PM
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.
1317. R.S.Dhiman |   Link |Apr 8, 2008 10:43:14 AM
When will I get refund in respect of my application no 41115616
1316. R.S. Dhiman |   Link |Apr 8, 2008 10:27:08 AM
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.

1315. sanjeev goenka |   Link |Apr 4, 2008 2:50:44 PM
what is the one yr target of REC i have 81 shares allotted in IPO
1314. TR |   Link |Apr 3, 2008 1:25:55 PM
1313. Smart Investor |   Link |Apr 2, 2008 11:55:34 PM
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 ..........
1312. ak |   Link |Apr 2, 2008 2:21:20 PM
it is still fluctuating on 100 to 106. Can any body predict for 6 months target.
1311. saifuddin zeenwala |   Link |Apr 1, 2008 7:27:29 PM

i have not recieved refund of rural Electrification yet.

can any one plz help me how can i apply for refund
1310. malleswari g |   Link |Mar 31, 2008 3:53:13 PM
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


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

Dear Investor,

Application No: 51478652

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.

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

1309. Govind |   Link |Mar 31, 2008 2:55:41 PM

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.
1308. Harish Arora |   Link |Mar 27, 2008 5:13:05 PM
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.
1307. basudeb |   Link |Mar 25, 2008 12:22:10 AM
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.
1306. mmm |   Link |Mar 24, 2008 8:46:55 PM
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
1305. naveen gaur unicon |   Link |Mar 24, 2008 11:42:36 AM
wht is future of REC?
1304. shareking |   Link |Mar 21, 2008 11:26:42 AM

3 months target 185
1303. Ashish Chandra |   Link |Mar 20, 2008 3:38:36 PM
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.
1302. kanchan |   Link |Mar 20, 2008 3:18:25 PM
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