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Rural Electrification Corporation Limited (REC)
*For category IV - Tranche II series IIB option for 15 years
Issue Highlights:
| Issue Opens | Friday, February 28, 2014 | Minimum Application | 5 Bonds (Rs. 5,000) (Across all series of Bonds) |
| Issue Closes | Friday, March 14, 2014 | Annualized Yield (Retail - Category IV) |
8.44% p.a for Tranche II series 1B for 10 yrs 8.88% p.a for Tranche II series 2B for 15 yrs 8.86% p.a for Tranche II series 3B for 20 yrs |
| Issue Price | Rs. 1,000/- per Bond | Credit Ratings | AAA by CRISIL, CARE, IRRPL and ICRA |
Business Overview:
The Company was incorporated as a private limited company under the Companies Act, 1956 on July 25, 1969 at New Delhi as “Rural Electrification Corporation Private Limited”. The word “private” was deleted from the name of the Company on June 03, 1970. The Company became a deemed public limited company with effect from July 01, 1975. The Company was converted into a public limited company with effect from July 18, 2003.
Issue Highlights:
| Issue Opens | Friday, February 28, 2014 |
| Issue Closes | Friday, March 14, 2014 |
| Issue Price | Rs. 1,000/- per Bond |
| Face Value | Rs. 1,000/- per Bond |
| Minimum Application | 5 Bond (Rs. 5,000) (Across all series of Bonds) |
| Rating | AAA by CRISIL, CARE, IRRPL and ICRA |
| Listing On | BSE |
| Registrar | Karvy Computershare Private Limited |
| Annualized Yield (Retail - Category IV) |
8.44% p.a for Tranche II series 1B for 10 yrs 8.88% p.a for Tranche II series 2B for 15 yrs 8.86% p.a for Tranche II series 3B for 20 yrs |
| Annualized Yield (Non Retail - Category I, II and III) |
8.19% p.a Tranche II series 1A for 10 yrs 8.63% p.a Tranche II series 2A for 15 yrs 8.61% p.a Tranche II series 3A for 20 yrs |
Allotment is on First Come First Serve Basis
Specific terms for each series of Bonds
| Options / Series | Tranche II Series 1A | Tranche II Series 2A | Tranche II Series 3A |
| Coupon rate p.a. for Category I, II, and III | 8.19% | 8.63% | 8.61% |
| Annualized yield p.a. for Category I, II & III | 8.19% | 8.63% | 8.61% |
| Options / Series | Tranche II Series 1B | Tranche II Series 2B | Tranche II Series 3B |
| Coupon Rate p.a. for Category IV | 8.44% | 8.88% | 8.86% |
| Annualized yield p.a. for Category IV | 8.44% | 8.88% | 8.86% |
| Frequency of Interest Payment | Annual | Annual | Annual |
| Minimum Application | 5 Bonds (Rs. 5,000) (Across all series of Bonds) | ||
| In Multiples of | One Bond (Rs. 1,000/-) | ||
| Face Value | Rs. 1,000/- | ||
| Issue Price | Rs. 1,000/- | ||
| Issue Size | Rs.250 crore with an option to retain oversubscription upto Rs. 809.3958 crore aggregating upto Rs. 1,059.3958 crores | ||
| Tenor | 10 Years | 15 Years | 20 Years |
| Redemption Date | At the end of 10 Years from the Deemed Date of Allotment | At the end of 15 Years from the Deemed Date of Allotment | At the end of 20 Years from the Deemed Date of Allotment |
| Redemption Amount (Rs./Bond) | Repayment of the face value along with any interest that may have accrued at the Redemption Date. | ||
Click here to download the prospectus of this Bond Issue.
Who Can Apply
| Categories | Reservation for Categories | Basis of allocation incase of over subscription | |
| Category I: (Institutions) |
|
10% of Overall Issue Size | On first-come-first-serve basis |
| Category II: (Corporate Portion) |
|
25% of Overall Issue Size | On first-come-first-serve basis |
| Category III: (HNI Portion) |
The following Investors applying for an amount aggregating to above Rs.10 lakhs across all Series of Bonds in this Tranche - II Issue:
|
25% of Overall Issue Size | On first-come-first-serve basis |
| Category IV: (Retail Portion) Individual Investor |
The following Investors applying for an amount aggregating upto and including Rs. 10 lakhs across all Series of Bonds in this Tranche - II Issue:
|
40% of Overall Issue Size | On first-come-first-serve basis |
4 Easy Ways to Apply
Apply on Website
- Login to Edelweiss.in >> Trade
- Click on 'IPO' tab
- Click on Order IPO
- Click on Apply button next to the REC Tranche II Bond option you wish to apply.
- Enter relevant details like quantity and price and hit the 'Submit' button.
- Post your confirmation, order will be placed successfully
Use Xtreme Trader
- Login to Xtreme Trader
- Click on Weblinks on the top menu bar
- Click on 'IPO'
- Click on Order IPO
- Click on Apply button next to the EPL Tranche II Bond option you wish to apply.
- Enter relevant details like quantity and price and hit the 'Submit' button.
- Post your confirmation, order will be placed successfully
Use the Mobile Trader App
- Login to Edelweiss Mobile Trader
- Tap on 'IPO' button at the bottom of the App
- Tap on the "EPL Tranche II Bond Issue", and hit the "Apply" button
- Enter relevant details like quantity and price and hit the 'Submit' button
- Post your confirmation, order will be placed successfully
Call Customer Care to Apply
- Call up 1800-102-333-5
- Select your preferred language: Press 1 for English or 2 for Hindi
- Press 1 to confirm that you are an existing account holder
- Press 5 to apply in IPO
- Speak to the customer care executive and provide the REC Option you wish to apply along with Quantity and Price.
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