Rec in grey market is trading at 30 Rs premium but it is also marker dependent. If market goes down before listing then it might go down. As of now one can easily expect a listing gain of 20-25 per share and allotment would be on pro-rata basis i guess
The IPO of the state-run Rural Electrification Corporation (REC) got subscribed 27.91 times with an overwhelming bidding for 435 Crores equity shares.
Qualified Institutional Buyers (QIBs) segment of the IPO subscribed of about 39.30 times. Non Institutional Investor (NII) of about 27.12 times. REC is offering 156.12 million shares through the IPO at a price band of Rs 90-105 a piece.
At nearly 28 times the issue size, the IPO has received bids worth nearly Rs 45,000 crore.
Allotment expectation is 120 to 130 shares for the application of 1 lakh (maximum) in the retail category. Allotment is due on March 07 and refund process will start from March 10.
Does any body know what is the listing date and the allotment date, if not alloted when will be refund date? I've applied for 1 lot @ 105 / Share is there any posiblities to get shares?
Rural Electrification Corporation is a public sector enterprise and is engaged in financing and promoting transmission, distribution and generation projects across the country. The company provides financial assistance to public sector power utilities at the central and state levels, private sector power utilities, and joint sector clients. Its financial products include long-term loans, short-term loans, bridge loans and debt refinancing provided through its corporate office in New Delhi and 17 field units across India.