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Govt clears follow-on issue of REC

30 Oct 2009 Evaluate

Carrying forward its disinvestment programme, the government today approved part sale of its stake in Rural Electrification Corporation Ltd (REC), the state-owned lender to power generation projects.

 

REC will raise 15 per cent of its paid-up equity as fresh equity, while the government will disinvest 5 per cent of its holding in the company, Home Minister P Chidambaram announced after a meeting of the Cabinet Committee on Economic Affairs. The follow-on issue is likely to fetch around Rs 3,200 crore-Rs 3,500 crore at the current market price.crackcrack

REC Share Price

354.35 -9.25 (-2.54%)
30-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Power Finance Corp 448.15
REC 354.35
Indian Railway Fin. 104.14
NHIT 160.00
Satin Creditcare 176.05
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