Don’t miss the latest developments in business and finance.

REC plans to raise up to Rs 6,000 crore through two bonds on Friday

The company has invited bids for the same on Friday. The NCDs have been given the highest credit rating of 'AAA' with a 'Stable' outlook by ICRA, and CRISIL

Photo: REC Limited
Photo: REC Limited website
Anjali Kumari Mumbai
1 min read Last Updated : May 08 2024 | 6:35 PM IST
REC Ltd is planning to raise up to Rs. 6000 crore through two bonds with different maturities.

The company plans to raise Rs 3,500 crore through the first bond, which will include Rs 2500 crore in greenshoe option and will mature in 10 years 17 days or on May 31, 2034. They plan to raise additional Rs. 3500 crore through reissuance of their 6.90%, March 31, 2031 bond.


The Greenshoe option is a provision within an underwriting agreement, empowering the underwriter to offer investors additional shares beyond the original allotment from the issuer, should the demand for a security issue exceed initial projections.

The company has invited bids for the same on Friday. The NCDs have been given the highest credit rating of 'AAA' with a 'Stable' outlook by ICRA, and CRISIL.

The company has designated May 14 as the pay-in date, when investors are required to remit funds to the issuer in exchange for the bonds.

More From This Section

Topics :RECRural Electrification CorpBondsfunds

First Published: May 07 2024 | 7:41 PM IST

Next Story