Comments
With less than a month for the current financial year to end, Rural Electrification Corporation Ltd's board of directors today approved raising Rs 1,500 crore through tax-free bonds with an option to retain double that amount of oversubscription.
In a communication to the stock exchanges, REC said that its board of directors on March 2 approved the prospectus for the proposed public issue of tax-free secured redeemable non-convertible bonds of face value of Rs 1,000 each, in the nature of debentures, during 2011-12, for Rs 1,500 crore, with an option to retain oversubscription up to an aggregate amount of Rs 3,000 crore, for filing with Office of RoC, NCT of Delhi & Haryana and other appropriate authorities.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.