REC inks MoU with Avaada Group to fund energy projects worth Rs 20,000 crore

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

24 Jul 2023 Evaluate

REC has signed a memorandum of understanding (MoU) with Avaada Group to fund its energy transition projects worth Rs 20,000 crore. Avaada is a leading company in India's renewable energy sector. This landmark collaboration with REC symbolises a monumental stride towards India's energy self-sufficiency.

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.

Peers

Company Name	CMP
Power Finance Corpn.	344.40
REC	308.00
NHIT	171.00
Satin Creditcare Net	214.80
IFCI	76.96
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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
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SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045

Compliance Officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com	Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com	Telephone: +919860919463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com	Telephone: +919175899463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.