Rural Electrification Corporation (REC), a public sector company, is eyeing to raise up to Rs 700 crore through issue of tax-free bonds this fiscal to meet various funding needs. This is on top of the Rs 300 crore already raised by the company through private placement.
A K Capital Services and Edelweiss Financial Services will manage the company’s issue. The leading lender for the power sector is authorized to raise Rs 1,000 crore via tax-free bonds.
REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric co-operatives for rural electrification projects as are sponsored by them.
| Company Name | CMP |
|---|---|
| Power Finance Corp | 461.00 |
| REC | 359.35 |
| Indian Railway Fin. | 106.05 |
| NHIT | 160.00 |
| Satin Creditcare | 212.55 |
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