REC files amendment for increasing the shelf limit of bonds to Rs. 6000 crore

In terms of CBDT Notification dated February 13, 2014 and Letter of SEBI dated February 21, 2014, Rural Electrification Corporation Ltd (REC) has filed an amendment in the Shelf Prospectus dated August 26, 2013 for increasing the shelf limit to Rs. 6000 crore from Rs. 5000 crore, with the office of Registrar of Companies (RoC), NCT of Delhi and Haryana on February 25, 2014. The Company has also filed Prospectus Tranche-ll for raising an amount of Rs. 250 crore with an option to retain Over-Subscription upto Rs. 809.3958 crore aggregating upto Rs. 1059.3958 crore through Public Issue of Tax Free Secured Redeemable Non-convertible Bonds of face value of Rs. 1000 crore, in the nature of Debentures, during the Fiscal Year 2014, with the RoC, NCT of Delhi and Haryana on February 25, 2014.

The Public Issue of Tax Free Secured Redeemable Non-convertible Bonds, in the nature of Debentures of REC will open on February 28, 2014 for subscription and is scheduled to close on March 14, 2014.

Shares of RURAL ELECTRIFICATION CORPORATION LTD. was last trading in BSE at Rs.188.05 as compared to the previous close of Rs. 184.95. The total number of shares traded during the day was 105336 in over 2424 trades.

The stock hit an intraday high of Rs. 188.85 and intraday low of 181.4. The net turnover during the day was Rs. 19557182.

Source : Equity Bulls

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