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First Central Public Sector Enterprises - Disinvestment - Rural Electrification Corporation (REC) for the year 2015-16

Dated:- 9-4-2015 - A Record 902% Oversubscription Amounting to ₹ 2887 Crore; FII Participation Stood at Impressive ₹ 1692 Crore or 20.71% of the Subscribed Amount The First CPSE disinvestment for the fiscal year 2015-16 got off to a thumping start today with the Rural Electrification Corporation (REC) OFS getting fully subscribed within one and a half hour of opening. On offer was 5% paid-up capital of the company comprising 4, 93, 72,950 shares, each of Face Value of ₹ 10. Out .....

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or the issue is borne out by the fact that the indicative price for retail was ₹ 325.10 and for institutions ₹ 324.73 both above the previous day (7/4/2015) closing price of ₹ 321.65 and floor price of ₹ 315. Seldom, if ever, has such an upward spiral been registered by an OFS. The highlight of the issue has been the overwhelming retail investor participation, a record 902% oversubscription amounting to ₹ 2887 crore. If we add retail bids through Mutual Funds then w .....

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