REC to issue tax free non-convertible bonds

Rural Electrification Corporation Ltd on Thursday informed that it has proposed public issue of tax free secured redeemable Non-convertible Bonds.

Rural Electrification Corporation Limited has filed Shelf Prospectus & Prospectus Tranche-I in respect of proposed Public Issue of Tax Free Secured Redeemable Non-convertible Bonds, will be in the nature of Debentures, during the Financial Year 2012-13, with the Registrar of Companies (RoC), NCT of Delhi and Haryana on November 27, 2012, the company said in the filing.

The company further said that the nature of debentures of REC will open on December 03, 2012 for subscription and is scheduled to close on December 10, 2012.

The shares of the company was seen trading higher by 3.35% to Rs 227 on BSE at 2.50 pm IST. It touched an intra-day high of Rs 228.

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