State-run Rural Electrification Corpn (REC), is all set to raise Rs 100 crore through issue of tax-free bonds. The issue shall open for subscription from February 25 till March 15, 2013. The face value of the bonds shall be Rs 1,000.
The company will use the raised fund for lending operations and to meet debt obligations. The company will have an option to retain an over-subscription of up to Rs 2,482.6529 crore from the bond issue.
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.
