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REC invites bids for raising Rs 500 crore through 80-days commercial paper: Report

26 Jun 2013 Evaluate

Rural Electrification Corporation (REC) has been reported to have invited bids for raising Rs 500 crore through 80-days commercial paper. The bond sale by the state-run power financing company is rated A1+ by CARE.

The company is planning to mop up around Rs 37,000 crore in FY14, higher by 19.35% as compared with a borrowing of Rs 31,000 crore in the previous financial year. The company will raise the same with Indian as well as foreign fund raising. The overseas fund raising may be about Rs 5,000 crore. The company plans to use the funds raised in financing and promotion of power generation, transmission and distribution, including renewable energy projects.

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

352.75 -3.75 (-1.05%)
06-May-2026 12:51 View Price Chart
Peers
Company Name CMP
Power Finance Corp 457.15
REC 352.75
Indian Railway Fin. 105.35
NHIT 160.00
Satin Creditcare 190.30
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