REC FPO to open for subscription today

The Follow-on Public Offering (FPO) of Rural Electrification Corportion Limited (REC) will open for subscription by investors today - Friday, February 19, 2010.

The company is coming out with FPO of 171,732,000 Equity Shares of Rs 10 each for cash at a floor price of Rs 203 through 100% book building process. The minimum order quantity is 30 equity shares and in multiple of 30 equity shares.

Kotak Mahindra Capital Company Limited, DSP Merrill Lynch Limited, ICICI Securities Limited, JM Financial Consultants Private Limited and RBS Equities (India) Limited are the Book Running Lead Managers to the issue.

JM Financial Services Private Limited and Kotak Securities Limited are the syndicate members to the FPO.

Karvy Computershare Private Limited is the registrar to the company.

The FPO closes for subscription on Tuesday - February 23, 2010.

Source : Equity Bulls

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