REC FPO | REC FPO - Floor Price Fixed - Indian IPO Blog

Thursday, February 18, 2010

REC FPO | REC FPO - Floor Price Fixed

The floor price for the upcoming FPO of Rural Electrification Corporation (REC) Ltd. has been fixed at Rs.203/- per equity share. The FPO would follow the French Auction Model for pricing of issue. In a French Auction Model Institutional buyers are free to bid above the floor price so fixed and the allotment is done on a price-priority basis at differential prices  

REC FPO consists of an aggregate of 171,732,000 Equity Shares, comprising of a Fresh Issue of 128,799,000 equity shares by the company and an Offer for Sale of 42,933,000 Equity Shares by the President of India, acting through the Ministry of Power, Government of India

The FPO would remain open for subscription between Friday, February 19, 2010 and Tuesday, February 23, 2010. Check back Indian IPO Blog for latest subscription status updates and more on REC FPO!

Related Posts:
> REC FPO to follow French Auction Model
> What is a 'French Auction' Model and how it works
> Rural Electrification Corporation FPO opens from February 19, 2010
> REC FPO likely in mid February
> Rural Electrification Corporation (REC) files DRHP for FPO

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