REC IPO Subscribed 27.91 times

The IPO of Rural Electrification Corporation was subscribed 27.91 times at 11:00 PM on the final closing day. The retail portion was subscribed 7.67 times.

All retail applications bidding for 480 and above will get atleast 60 shares as firm allotment.All the retail applications for 900 shares [Rs 1 Lakh application] will get firm allotment of 120 shares.

We have a SUBSCRIBE recommendation for the REC IPO.