REC's Rs 4,500 cr tax-free bond issue to open on Dec 3

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The issue will close on December 10 The issue will close on December 10
SummaryState-run power sector lender Rural Electrification Corporation (REC) today said its public issue of tax-free bonds aimed at raising up to Rs 4,500 crore will open for subscription on December 3.

power capacity in the country was 2,09,276 MW as on March 31, 2012. Of this, 88,881 MW was in the state sector, 62,000 MW in central and nearly 60,000 MW in the private sector.

The public finance institution estimates its loan book to grow by 20-25 per cent in FY13 over the last fiscal. The company has targeted a disbursement growth of 15-20 per cent in the current fiscal.

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