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REC gains on raising $400 million through bonds

08 Jul 2021 Evaluate

REC is currently trading at Rs. 145.10, up by 1.15 points or 0.80% from its previous closing of Rs. 143.95 on the BSE.

The scrip opened at Rs. 144.40 and has touched a high and low of Rs. 147.40 and Rs. 144.20 respectively. So far 84937 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 167.75 on 09-Jun-2021 and a 52 week low of Rs. 91.90 on 13-Oct-2020.

Last one week high and low of the scrip stood at Rs. 147.40 and Rs. 142.80 respectively. The current market cap of the company is Rs. 28715.31 crore.

The promoters holding in the company stood at 52.63%, while Institutions and Non-Institutions held 39.03% and 8.33% respectively.

REC has raised $400 million (around Rs 2,986 crore) by issuing bonds to finance the power sector. The bonds have been issued under the company’s $7 billion Global Medium Term Note Programme. The notes (bonds) will mature on January 13, 2027 and all principal and interest payments will be made in US dollars. The settlement date for the notes is expected to be July 13, 2021.

The net proceeds from the sale of the notes will be used for lending to the power sector in accordance with the External Commercial Borrowing regulations, guidelines and directions of the Reserve Bank of India.

REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric cooperatives for rural electrification projects as are sponsored by them.


REC Share Price

359.35 -0.35 (-0.10%)
08-May-2026 16:59 View Price Chart
Peers
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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