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REC Ltd updates on fund raising plans

Posted On: 2020-03-25 19:11:56


The Board of Directors of REC Limited, in its Meeting held on March 25, 2020 has approved:

- Upward revision in Market Borrowing Programme for FY 2019-20 from Rs.90,000 crore to Rs.94,000 crore (i.e. increase of Rs. 4,000 crore in raising funds through Domestic Bonds / Debentures, Rupee Term Loan, ECBs and Capital Gain Tax Exemption Bonds, to be raised during the balance period of the current financial year i.e. FY 2019-20) and approval of Market Borrowing Programme for FY 2020-21, and

- Launch of Capital Gains Tax Exemption Bonds (Series XIV) under Section 54EC of the Income Tax Act, 1961 for raising of funds on private placement basis for an amount of Rs. 2,500 crore with green shoe option to retain over subscription. The said Issue will open on 1st April, 2020 and close on 31st March, 2021. However, the Company would have a right to pre-close the issue or extend the same at any time.

Shares of REC Ltd was last trading in BSE at Rs.84.7 as compared to the previous close of Rs. 81.45. The total number of shares traded during the day was 237414 in over 1284 trades.

The stock hit an intraday high of Rs. 85.6 and intraday low of 79.8. The net turnover during the day was Rs. 19647251.


Source: Equity Bulls

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