REC FPO to follow French Auction Model - Indian IPO Blog

Wednesday, February 17, 2010

REC FPO to follow French Auction Model

REC FPO, like the recent FPO of NTPC Ltd., will follow the French Auction Model for pricing of its issue. The FPO would consists of 171,732,000 Equity Shares, each having a Face Value of Rs. 10 each

Rural Electrification Corporation Ltd., one of the leading public financial institutions in Indian power infrastructure engaged  in the financing and promotion of transmission, distribution and generation projects throughout India. REC intends to utilize the funds being raised through the issue to augment capital base to meet future capital requirements

REC FPO would remain open for subscription between Friday, February 19, 2010 and Tuesday, February 23, 2010

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