REC moves up on raising Rs 5,000 crore through issuance of bonds
REC is currently trading at Rs. 436.65, up by 3.75 points or 0.87% from its previous closing of Rs. 432.90 on the BSE.
The scrip opened at Rs. 434.95 and has touched a high and low of Rs. 441.00 and Rs. 433.20 respectively. So far 50923 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 653.90 on 12-Jul-2024 and a 52 week low of Rs. 357.45 on 28-Feb-2025.
Last one week high and low of the scrip stood at Rs. 447.25 and Rs. 419.00 respectively. The current market cap of the company is Rs. 114597.91 crore.
The promoters holding in the company stood at 52.63%, while Institutions and Non-Institutions held 35.32% and 12.05% respectively.
REC has raised Rs 5,000 crore through issuance of bonds. The offering included Rs 3,000 crore through five-year bonds at a coupon of 6.87 per cent and Rs 2,000 crore through 10-year bonds at a coupon of 6.86 per cent. The bonds will be listed on both the BSE and the National Stock Exchange (NSE), enhancing their liquidity and offering investors easy tradability.
The bonds have been assigned a ‘AAA’ rating by prominent credit rating agencies CARE Ratings, ICRA, and India Rating & Research (IRRPL), signifying the highest degree of safety regarding timely servicing of financial obligations.
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.
