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REC

REC plans to garner Rs 700 cr via tax-free bonds

State-owned Rural Electrification Corp (REC) plans to raise up to Rs 700 crore through issue of tax-free bonds this fiscal to meet various funding needs.

Rural Electrification Corp Q1 net rises 15% to Rs 1,478.58 cr

The company's net profit in the corresponding quarter of the previous fiscal was Rs 1,282.79 crore, REC Ltd said in a BSE filing.

REC incorporates 3 transmission SPVs as subsidiaries

"REC Transmission Projects, an arm of REC has incorporated three project specific Special Purpose Vehicles (SPVs) as its subsidiaries," REC said in a filing to the BSE.

REC shares end 2% higher after govt share sale

Shares of Rural Electrification Corporation (REC) Thursday ended nearly two percent higher, a day after the company received an overwhelming response to its share sale by the government.

REC shares up over 3% as stake sale over subscribed 5 times

Shares of Rural Electrification Corporation rose by over 3 percent Wednesday as the government's sale of 5 percent stake in the state-run firm got subscribed over five times.

REC share sale subscribed over 5 times, govt gets Rs 1,550 cr

The stake sale in Rural Electrification Corpn (REC) is the first in the government's disinvestment pipeline for the current fiscal.

REC stake sale Wednesday; govt sets floor price at Rs 315/share

Government will sell 5 percent stake in Rural Electrification Corporation Wednesday at Rs 315 a share to mop up over Rs 1,550 crore, marking the first disinvestment of the current fiscal.

REC floor price set at Rs 315 a share, stake sale Wednesday

The government plans to sell 5 percent of its stake in the company tomorrow to mop up close to Rs 1,600 crore.

REC shares down nearly 5% ahead of share sale

Shares of Rural Electrification Corporation Ltd Tuesday ended nearly 5 percent lower after the government announced to sell 5 percent of its stake tomorrow in the company to mop up close to Rs 1,600 crore.

REC stake sale on Wednesday; govt to get about Rs 1,600 cr

"The offer shall take place during trading hours on a separate window of the stock exchanges and shall commence on April 8," REC said in a filing to the BSE.

Fund mop-up via debt placement rises 40% to Rs 2.67 lakh crore

Driven by higher fund mobilisation by PFC and REC, capital raised by Indian companies through corporate bonds on private placement basis surged by 40 percent to Rs 2.67 lakh crore in the first nine months of the current fiscal.

CCI orders probe against REC for anti-competitive ways

The Competition Commission has ordered a probe against state-owned REC for allegedly indulging in unfair business practices with respect to financing of rural electrification schemes.

Sebi finds 22 PSUs violating norms; SBI files for settlement

Others include SAIL, ITDC, HMT, Shipping Corporation, NTPC, NHPC, STC, Nalco, EIL, REC and Neyveli Lignite.

DoD seeks bankers for PFC, REC stake sale; eyes Rs 3,000 cr

The Disinvestment department has initiated the process of appointing merchant bankers to manage the 5 percent stake sale of PFC and REC, which could together fetch over Rs 3,000 crore to the exchequer.

Govt may opt for UMPP bidding route for coal mine auction

At present, the Ministry of Power awards ultra mega power projects (UMPPs) of 4,000 MW capacity each through international competitive bidding process.

REC kickstarts public issue of bonds; to raise Rs 4,500 cr

"We are raising Rs 4,500 crore by the issuance of these tax free secured redeemable non-convertible bonds," said REC Chairman and MD Rajeev Sharma at a press conference.

REC tax-free bonds issue to raise Rs 4,500 crore on Dec 3

The proceeds shall be utilised for normal on lending operations of REC in the power and infrastructure projects.

REC to invite bids for third Rs 400 cr transmission project

State-owned Rural Electrification
Corp (REC) would invite qualifying bids for the Rs 400-crore
independent transmission project on April 12.

REC posts 48.58% jump in net profit at Rs 474 crore in Q3

State-run Rural Electrification Corporation on Wednesday posted a 48.58 per cent jump in net profit at Rs 474 crore for the quarter ended December 31, 2009, over the same period the previous year.

Reliance Power bags two projects worth Rs 4,100 cr

Reliance Power Transmission Limited, a subsidiary of Reliance Infrastructure, is believed to have bagged two transmission projects worth Rs 4,100 crore connecting six states.