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Rural Electrification Corporation

PFC board okays purchase of government's stake in REC

The government is expected to garner around Rs 15,000 crore from this sale process.

Dec 21, 2018, 11:44 AM IST

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.

Oct 18, 2015, 18:59 PM IST

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.

May 13, 2015, 11:19 AM IST

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.

Apr 21, 2015, 15:56 PM IST

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.

Apr 09, 2015, 17:56 PM IST

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.

Apr 08, 2015, 18:58 PM IST

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.

Apr 08, 2015, 17:17 PM IST

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.

Apr 08, 2015, 11:16 AM IST

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.

Apr 08, 2015, 09:01 AM IST

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.

Apr 06, 2015, 19:24 PM IST

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.

Jan 19, 2015, 17:56 PM IST

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.

Dec 03, 2012, 16:23 PM IST

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.

Nov 30, 2012, 20:04 PM IST

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.

Mar 23, 2012, 19:04 PM IST

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.

Sep 18, 2011, 14:54 PM IST

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.

Jan 13, 2010, 19:42 PM IST

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.

Oct 16, 2009, 17:43 PM IST