Rural Electrification Corp  (REC) which raised about Rs 1,640 crores will  be listing  in the markets on Mar 12th,2008.It hit  the capital  markets on Feb 19th with 15.62 crores equity shares with the price band of Rs 90 and Rs 105.Amidst high volatility in the markets the issue was subscribed  27 times within minutes of opening.

It generated demands worth Rs 46,000 crores.The company fixed the issue price at Rs 105.If you want to know about your allotment status please visit here. The proceeds from the IPO are to be utilised in  future growth and augmenting its capital base. If the markets trade on a positive cue hopefully it will give some premium over its issue price.Now we need to wait and watch how this issue performs on the day of listing.

Meanwhile the Asian markets have opened lower today with Nikkei 225 and Hang Seng losing over 1.4% each.This is surely going to have a negative impact on the Indian markets today.The markets have lost over 1,000 points last week to close at 15,975 points.The support levels for Nifty is around 4,600 levels and for that of Sensex is about 15,000 to 15,500 levels.The next triggers are going to come from Fed meeting and results which will come up in another months time.

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