State-run Rural Electrification Corp (REC) has decided to raise up to Rs 5,000 crore through tax-free bonds in the current fiscal. The company aims to issue non-convertible bonds of Rs 1,000 each and tenure of the bonds will be 10 or 15 years.
Lead managers to the issue are AK Capital Services, Enam Securities, ICICI Securities, Kotak Mahindra Bank and SBI Capital Markets.
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.
