Retail Investors shun REC FPO

Retail investors gave a miss to the FPO of Rural Electrification Corporation Ltd.

The Retail Individual Investors (RIIs) portion of the FPO received lukewarm response with subscription of 0.2297 times. Retail Investors have put in bids for 13776810 equity shares against the offer of 59983700 equity shares.

Under retail investors portion, all the bids for 13776810 equity shares have come as price bids.

The employee reservation portion received subscription of 0.8531 times with bids for 298590 equity shares against the offer of 350000 equity shares.

The FPO opened for subscription on February 19, 2010 and closed for subscription on February 23, 2010.

Source : Equity Bulls

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