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.
Sensex today closed 691.55 point up at 19854.12 , Nifty was up 218 points at 5985.10. It is the 6th bigeest gain in oneday. Today's main contributors are IT stocks. Wipro was up at 535.30 (+8.86%), Infosys up at 1810.90(+6.63%) and Satyam closed at 454.55 up by 6.28%. The buying activity was wide-base and lifted almost all the sectoral indices. Sector wise performance was as follows - BSE IT 4581.61 (+260.98) BSE Healthcare 4294.83(+52.30) BSE FMCG2218.74(+20.29) BANKEX 11101.74 (+363.15) BSE Auto5586.83(+45.57) BSE TECk3961.96 (+185.00) BSE PSU 9830.01 (+317.11) Today BSE Midcap closed at 9211.71 up by 186.17 and BSE Smallcap index closed at 11980.57 up by 167.25 points.
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