GTL Infrastructure Ltd has informed BSE that the Committee of Board at its meeting held on February 06, 2008, has considered and approved allotment of 26,67,420 Equity Shares consequent to conversion of FCCBs worth US$ 36,00,000 at a conversion price of Rs 53.04 per share, in terms of the Offering Circular dated November 24, 2007 for issue of U.S.$. 300,000,000 Zero Coupon Convertible Bonds due 2012.
Wednesday, February 6, 2008
CRISIL IPO grade 3/5 assigned to the IPO REC
Rural Electrification Corporation Ltd is a public sector non-banking finance company (NBFC). REC operates under the administrative control of the Ministry of Power (MoP) and is wholly-owned by the Government of India (GoI). Established in 1969 with the sole objective of financing rural electrification schemes in the country, it services its clients -through a network of 17 project offices spread across India.
For 2006-07, the company's fund-based income and net profits were Rs 28.3 billion and Rs 7.7 billion, respectively. The operating income of the company has grown at a CAGR of 11.4 per cent over the past 5 years, while PAT has grown at a CAGR of 14.5 per cent in the same period.
REC aims to raise Rs 14 billion to Rs 16 billion by this proposed public issue of 156,120,000 equity shares.
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