Ministry of Power approves REC follow-on offer

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Ministry of Power approves REC follow-on offer

The Ministry of Power (MOP) vide its letter dated November 09, 2009 has conveyed their approval for follow-on public offer (FPO) of the Rural Electrification Corporation of 171,732,000 equity shares of Rs 10 each constituting 20% of existing paid-up capital.

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Rural Elect Cor BSE | NSE 10/02/12 Are Mutual Funds betting on Rural Elect Cor?

The Ministry of Power (MoP), vide its letter dated November 09, 2009, has conveyed its approval for follow-on public offer (FPO) of the Rural Electrification Corporation of 171,732,000 equity shares of Rs 10 each constituting 20% of existing paid-up capital.

The stock closed at Rs 216.95, up 0.86% over its previous closing price. It has touched a 52-week high of Rs 225 and 52-week low of Rs 53.55. Its market cap was at Rs 18,628.63 crore.