REC lists with 19 pc premium on BSE
Mumbai (PTI): State-run Rural Electrification Corp on Wednesday got listed at Rs 125 on the Bombay Stock Exchange with a premium of 19 per cent over its issue price of Rs 105.
Within minutes of listing the company touched a high of Rs 128.40 and a low of Rs 120.25 on the BSE.
On the National Stock Exchange the scrip got listed at Rs 129.90, with a premium of 23.7 per cent over its issue price.
The scrip witnessed good trading volume and as much as 65.54 lakh shares exchanged hands on the NSE and over 68.65 lakh shares got traded on the BSE.
Later, REC parted with some gains and was trading at Rs 123.75 on BSE and at Rs 123 on NSE at 0956 hrs.
The company, which hit the capital market with 15.62 crore equity shares on February 19, raised Rs 1,640 crore. The issue got oversubscribed more than 27 times.
The company had set the IPO price band at Rs 90-105. The issue constituted about 18.18 per cent of the fully diluted post-issue capital of REC.
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