Post-FPO, the governments share in REC would come down to nearly 66% from present 81.82%.
The company, engaged in financing power projects, had posted 48.58% jump in net profit at Rs 474 crore for the quarter ended December 31, 2009. Shares of REC on Thursday closed at Rs 242.75 on BSE, up 1.17%. Besides REC, the government plans to sell its stake in NTPC, NMDC and Satluj Jal Vidyut Nigam by March-end. The follow-on offer of NTPC would open on February 3 and closes on February 5.