Rural Electrification Corporation (REC) may hit the markets soon with a Follow-on Public Offer (FPO). The Company has filed a Draft Red Herring Prospectus (DRHP) with Securities and Exchange Board of India (SEBI) for Follow-on Public Offer (FPO) of 171,732,000 equity shares of Rs 10 each, constituting 20% of existing paid-up capital, on December 03, 2009
REC had come up with an IPO in February 2008, which was oversubscribed 27.88 times (Click here to View detailed subscription status of REC IPO)
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