REC jumps on raising Rs 3,500 crore by issuing green bonds
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
REC is currently trading at Rs. 440.05, up by 11.30 points or 2.64% from its previous closing of Rs. 428.75 on the BSE.
The scrip opened at Rs. 430.00 and has touched a high and low of Rs. 444.50 and Rs. 430.00 respectively. So far 789555 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 454.80 on 14-Dec-2023 and a 52 week low of Rs. 110.50 on 14-Feb-2023.
Last one week high and low of the scrip stood at Rs. 444.50 and Rs. 412.00 respectively. The current market cap of the company is Rs. 116493.83 crore.
The promoters holding in the company stood at 52.63%, while Institutions and Non-Institutions held 34.50% and 12.87% respectively.
REC has raised JPY (Japanese Yen) 61.1 billion (about Rs 3,500 crore) by issuing green bonds. Proceeds from the issue of the Bonds will be applied to finance the eligible green projects in accordance with the company’s Green Finance Framework, the RBI's ECB guidelines and the approvals granted by it from time to time.
The company has successfully issued its inaugural JPY 61.1 billion 5-year, 5.25-year and 10-year Green bonds issued under its $10 billion Global Medium Term Notes Programme. The company’s eleventh venture into the international bond market and inaugural Yen Bond issuance, which is also the first Yen Green Bond issuance by any Indian PSU.
REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric cooperatives for rural electrification projects as are sponsored by them.
