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Rural Electrification Corporation files for IPO
Friday, August 24, 2007
State-run power sector firm Rural Electrification Corporation has filed a Draft Red Herring Prospectus (DRHP) with market regulator SEBI for its initial public offer through which it expects to raise up to Rs 1,200 crore.
The company has filed a DRHP with SEBI for the a public issue, in which around 15.6 crore shares would be offered. These shares constitute 20% of the existing equity capital of REC.
REC would issue the shares at a price to be decided through the book building process and the scrip would be listed on Bombay Stock Exchange and National Stock Exchange.
The proceeds of the issue would be utilised to meet the company's future corporate requirements0 comments:
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