Rural Electrification Corporation Limited files DRHP with SEBI

Rural Electrification Corporation Limited has filed Draft Red Herring Prospectus (DRHP) with SEBI for its forthcoming Initial Public Offering (IPO) to investors. The company is coming with a Public Issue of 156,120,000 equity shares of Rs.10 each for cash at a price band to be decided later.

The Issue comprises a fresh issue of up to 78,060,000 equity shares by REC and an offer for sale of up to 78,060,000 equity shares by the President of India acting through The Ministry of Power, Government of India.

The Issue comprises a net issue of 152,217,000 equity shares to public and a reservation of 3,903,000 equity shares for eligible employees. At the issue price, the Issue shall constitute 18.18% of the fully diluted post issue paid-up capital of the company.

The company's shares are proposed to be listed in Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

IL&FS Investsmart Securities Ltd, ICICI Securities Ltd and SBI Capital Markets Ltd are the Book Running Lead Managers to the issue. Karvy Computershare Pvt Ltd is the Registrar to the issue.

Click Here to View Rural Electrification Corporation Limited Website.

Click Here to view Rural Electrification Corporation Limited Prospectus.

Source : Equity Bulls

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