Rural Electrification Corporation (REC) is planning to raise funds through public issue of tax-free secured redeemable non-convertible bonds with face value of Rs.1,000 each for an amount of Rs.300 crore with an option to retain oversubscription of up to Rs.400 crore. The interest income on bonds is exempt from tax in the hands of the investors.
The issue opens on October 27 and closes on November 4 with an option for early closure or extension. The NCDs are proposed to be listed on the BSE.
This issue has been rated ‘AAA’ by rating agencies —CRISIL, ICRA, CARE and India Ratings.
The funds raised through this issue will be utilised towards lending operations of our company and other associated business objectives. REC is a public financial institution in the Indian power infrastructure sector
