REC FPO fully subscribed

Rural Electrification Corporation (REC) follow-on-public offer is subscribed fully on last day of issue.

Overall, the FPO was subscribed by 1.23 times, receiving total bids for over 212 million equity shares, against the offer size of 171.7 million shares. The category wise details are not available.

The stock has declined 1% to Rs 211, and has seen 289,000 equity shares changing hands so far on the BSE.

At the end of second day of the issue, the portion reserved for qualified institutional buyers was subscribed 1.09 times, with bids coming at Rs 215, Rs 210, Rs 205 and Rs 204, respectively.

Retail investors portion was subscribed by just 0.03 times and non institutional investors (NIIs) by 0.23 times on Monday.