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REC Okays Public Issue Of Tax Free Non-Convertible Bonds

Rural Electrification Corporation Ltd. said its board approved the prospectus for the proposed public issue of Tax Free Secured Redeemable Non-convertible Bonds of Rs.1,000 each in the nature of Debentures during the current fiscal year for an amount of Rs.1,500 crore with an option to retain over subscription up to an aggregate amount of Rs.3,000 crore.

At the BSE, Rural Electrification shares are currently trading at Rs.208.20, down by 0.69 percent from the previous close.

by RTTNews Staff Writer

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