The public sector Rural Electrification Corporation (REC) has decided to go ahead with its planned IPO despite the ongoing market turmoil. “We are not much concerned with volatility in the markets, we have a good case and I hope the issue will do well,” said CMD A K Lakhina. REC has proposed to dilute 18.18 per cent of the government stake by issuing 15.61 crore shares. The price band has been fixed between Rs 95 and Rs 105. The issue will open on February 19 and close on February 22.
