UBS Principal Capital Asia buys REC shares worth Rs 225 cr

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State-owned REC on Wednesday said it has raised USD 500 million (around Rs 3,773 crore) through issuance of overseas bonds.
issuance of overseas bonds

New Delhi, Jun 9 (PTI) UBS Principal Capital Asia Ltd on Tuesday picked up REC Ltd shares worth nearly Rs 225 crore through an open market transaction.

According to bulk deal data on the BSE, UBS Principal Capital Asia bought 2.2 crore shares of REC at an average price of Rs 102.25, taking the total deal value to Rs 224.95 crore.

In a separate transaction, Eastspring Investments – Developed and Emerging Asia Equity Fund offloaded more than 1.33 crore shares of REC.

The shares were sold at a price of Rs 102.25 apiece, and the total deal value was Rs 136.5 crore.

According to the shareholding pattern of REC for March 2020 quarter, Eastspring Investments – Developed and Emerging Asia Equity Fund held 1.03 per cent stake in REC.

Shares of REC Ltd on Tuesday closed 4.44 per cent lower at Rs 96.85 on the BSE.

Source:PTI

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