Rural Electrification Corp files draft prospectus
December 4th, 2009 - 3:22 pm ICT by IANS ( Leave a comment )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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- National Mineral Development Corp public offer by fiscal-end - Dec 29, 2009
- Government approves divestment in power firms - Oct 19, 2009
- NTPC sale to fetch 1.8 billion dollars: Disinvestment Secretary - Nov 14, 2009
- Two-year roadmap by March to guide PSU divestments - Dec 21, 2009
- Government begins process for road map on divestment - Nov 13, 2009
- ONGC to start two petrochemical projects by 2013 - Aug 30, 2011
- Rural Electrification Corp public offer oversubscribed 3.1 times - Feb 23, 2010
- Disinvestment norms for public sector eased - May 26, 2010
- 10 percent NBCC divestment okayed - Aug 11, 2011
- NTPC issue subscribed 70 percent on first day of offer - Feb 03, 2010
- Government hikes divestment targets to rake in Rs.25,000 cr - Feb 26, 2010
- REC gets RBI nod to raises FII stake limit to 35 percent - Oct 01, 2010
- SJVNL declares Rs.330.93 crore dividend - Aug 27, 2011
Tags: divestment, draft prospectus, jal, ntpc, percent stake, power utilities, public sector, red herring, rural electrification, vidyut
