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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.

PFC awaits govt nod for Rs 5,000 cr tax-free bonds issue

Power Finance Corporation (PFC) is awaiting government approval to raise Rs 5,000 crore through an issue of tax-free bonds to meet funding requirements of the power sector.

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.

Rural Electrification Corporation board approves FPO

The board of directors of the Rural Electrification Corporation today approved the proposed follow-on public offer (FPO) of the state-run company.