Rural Electrification Corp IPO Details

REC IPO will opens for subscription on Monday, February 19, 2008. Rural Electrification Corp IPO might help improve the sentiments of the IPO market which is going through a bad phase at the moment. Rural Electrification Corporation IPO price band has been fixed at Rs. Rs. 90 to Rs. 105 per share. With another recent PSU power sector IPO, Power Grid IPO, providing excellent returns for investors, the REC IPO is likely to get a good response from investors. The government of India will dilute about 19% stake in Rural Electrification Corporation (REC) through the IPO. At present 100% stake of REC is owned by the government. Rural Electrification Corporation is a mini ratna company. REC IPO Subscription closes on Friday, February 22, 2008.