QIBs bail out REC FPO

The Qualified Institutional Buyers (QIBs) have bailed out the FPO of Rural Electrification Corporation Limited, by subscribing for bulk of the shares.

The Qualified Institutional Buyers (QIBs) portion of the issue received bids for 472770180 equity shares against the offer of 85691000 equity shares resulting in a subscription of 5.5172 times.

Among the QIBs, Foreign Institutional Investors (FIIs) subscribed for 177154140 equity shares and others had bid for 245070 equity shares.

Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) bid for 232162830 equity shares and Mutual Funds subscribed for 63208140 equity shares.

Source : Equity Bulls

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