REC FPO receives subscription of 2.29 times

The Follow-on Public Offering (FPO) of Rural Electrification Corporation Limited has received subscription of 2.29 times till 3:00 PM on February 23, 2010.

The FPO has received total bids for 393651750 equity shares against the offer of 171732000 equity shares. The issue has received bulk of the bids at Rs 205.

The company has come 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 FPO opened for subscription on February 19, 2010 and closes for subscription today - Tuesday, February 23, 2010.

The shares are already listed in both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The shares closed the day in NSE at Rs 212.05, down by Rs 1.85 or 0.86% compared to the previous close of Rs 213.90. The stock hit an intraday high of Rs 213.65 and low of Rs 210.

The total traded quantity was 2463529 at a weighted average price of Rs 212.19 resulting in a turnover of Rs 5227.36 lakhs.

Source : Equity Bulls

Keywords