Rural Electrification Corp files draft prospectus
December 4th, 2009 - 3:22 pm ICT by IANS
- Mumbai, Dec 4 (IANS) State-run Rural Electrification Corp (REC) Friday filed a draft red herring prospectus with the markets regulator for a follow-on public offer to offload 20 percent of the government’s stake.
REC, in which the state holds about 82 percent stake, said in a regulatory statement that the offer will be for 171,732,000 equity shares of Rs.10 each, constituting 20 percent of existing paid-up capital.
The government is aiming for partial divestment in at least three public sector power utilities — REC, NTPC and Sutlej Jal Vidyut Nigam — by the end of this fiscal.
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Categories
- Business
- - divestment
- - draft prospectus
- - jal
- - ntpc
- - percent stake
- - power utilities
- - public sector
- - red herring
- - rural electrification
- - vidyut
Posted in Business, |
