Rural Electrification Corporation receives approval from Government of India for Issue of FPO

Rural Electrification Corporation Ltd now announced with reference to the earlier annoucement dated October 16, 2009, regarding consideration of Follow-on Public Offer (FPO) of Equity Shares in the Board Meeting, that the Ministry of Power (MOP) vide its letter dated November 09, 2009 has conveyed their approval for Follow-on Public Offer (FPO) of the Company of 171,732,000 Equity Shares of Rs. 10 each constituting 20 % of existing paid-up capital.

The stock closed the day at Rs.216.95, up by Rs.1.85 or 0.86%. The stock hit an intraday high of Rs.219.50 and low of Rs.210.

The total traded quantity was 165261 compared to 2 week average of 290429.

Source : Equity Bulls

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