Rural Electrification Corporation files DRHP with SEBI for FPO

Rural Electrification Corporation Ltd has now announced with reference to the earlier announcement dated November 10, 2009 regarding approval from the Government of India for Follow-on Public Offer (FPO), that the Company on December 03, 2009 has filed the Draft Red Herring Prospectus (DRHP) with Securities and Exchange Board of India (SEBI), National Stock Exchange of India Ltd. (NSE) and Bombay Stock Exchange Ltd. (BSE) in connection with 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.263.50, up by Rs.6.10 or 2.37%. The stock hit an intraday high of Rs.264.90 and low of Rs.258.

The total traded quantity was 243211 compared to 2 week average of 304316.

Source : Equity Bulls

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