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REC IPO

IPO of Rural Electrification Corporation (REC) got subscribed by over 14 times of the issue size, as per the data available with the NSE at 1400 hrs.
The IPO received bids for 219.65 crore equity shares, against 15.61 crore shares on offer. The issue, expected to raise Rs 1,640 crore, closes for subscription on Friday.
The company's maiden public offer got subscribed 4.13 times of the issue size till yesterday, with most of the bids pouring in from institutional investors. REC has fixed the price band for the issue at Rs 90-105.

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