REC lists with 19% premium on BSE

REC lists with 19% premium on BSE
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First Published: Wed, Mar 12 2008. 10 38 AM IST
Updated: Wed, Mar 12 2008. 10 38 AM IST
PTI
Mumbai: State-run Rural Electrification Corp got listed at Rs125 on the Bombay Stock Exchange on 12 March, a premium of 19% over its issue price of Rs105.
Within minutes of listing the company touched a high of Rs128.40 and a low of Rs120.25 on the BSE.
On the National Stock Exchange the scrip got listed at Rs129.90, with a premium of 23.7% over its issue price.
The scrip saw good trading volume and as much as 65.54 lakh shares changed 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 Rs123.75 on BSE and at Rs123 on NSE at 0956 hrs.
The company, which hit the capital market with 15.62 crore equity shares on 19 February, raised Rs1,640 crore. The issue got oversubscribed more than 27 times.
The company had set the IPO price band at Rs90-105. The issue constituted about 18.18% of the fully diluted post-issue capital of REC.
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First Published: Wed, Mar 12 2008. 10 38 AM IST