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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.

Cabinet clears 5% disinvestment in NTPC, 10% in Indian Oil

The Union Cabinet on Wednesday approved 5 percent disinvestment in NTPC and 10 percent in Indian Oil Corporation to achieve the current fiscal's disinvestment target of Rs 41,000 crore.

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.

Govt kicks off FY16 divestment; REC share sale gets fully subscribed

The government is looking to raise Rs 1,550 crore from sale of 4.93 crore shares in Rural Electrification Corp (REC) through a one-day OFS route at a floor price of Rs 315 apiece.

Govt kicks off FY16 divestment with REC stake sale, floor price at Rs 315 per share

The floor price of Rs 315 a share is at a discount of 2.07 percent over the closing price of Rs 321.65 a share.

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.

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.

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 sanction Rs 54,600 cr loans in 2012-13

State-run Rural Electrification Corp (REC), a leading lender for the power sector, would sanction loans worth Rs 54,600 crore during 2012-13 fiscal, around nine cent more than its target for the current fiscal.