REC shines on plan to raise Rs 4,500 crore by issue of tax-free bonds

REC Ltd. | Finance Term Lending | BFSI | BSE: 532955 | NSE: RECLTD

30 Nov 2012 Evaluate

REC is currently trading at Rs. 231.90, up by 3.05 points or 1.33% from its previous closing of Rs. 228.85 on the BSE.

The scrip opened at Rs. 230.65 and has touched a high and low of Rs. 234.00 and Rs. 228.55 respectively. So far 1, 36,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 251.40 on 17-Feb-2012 and a 52 week low of Rs. 142.00 on 07-Jun-2012.

Last one week high and low of the scrip stood at Rs. 234.00 and Rs. 217.75 respectively. The current market cap of the company is Rs. 22,899 crore.

The promoters holding in the company stood at 66.80% while Institutions and Non-Institutions held 26.78% and 6.42% respectively.

State-run Rural Electrification Corp (REC) has decided to raise up to Rs 4,500 crore through tax-free bonds in the current fiscal. The issue opens for subscription on December 3, 2012 and closes on December 10, 2012. The issue proceeds will be utilized for normal lending operations of REC in the power sector and infrastructure projects to augment resource base of the company.

The minimum application for subscription in retail segment is of Rs 5,000 with an upper limit of Rs 10 lakh, 40 per cent of the issue is reserved for retail participation. Though, the coupon rates of these instruments are yet to be announced but QIB, HNI and Corporates are likely to earn 50 basis points less return compared to retail investors.

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.

REC Share Price

351.90 -0.15 (-0.04%)

10-Jul-2026 16:59 View Price Chart

Peers

Company Name	CMP
Power Finance Corpn.	406.50
REC	351.90
Indian Railway Fin.	89.88
NHIT	160.00
Satin Creditcare Net	256.75
View more..

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