REC FPO and Lodha Developers IPO

Ministry of Power approves REC FPO (20% stake sale)
The Ministry of Power, has conveyed its approval for follow-on public offer (FPO) of the Rural Electrification Corporation of 171,732,000 equity shares of Rs 10 per unit. The stock closed at Rs 216.95.

Lodha Developers hopes to launch IPO in Dec
Lodha Developers plans to launch an initial public offering to raise up to Rs 30 billion (USD 640 million. Initially, ICICI Bank and Housing Development Finance Corporation and Duestche bank are investing investors. Net profit of 957 million rupees in 2008 -09 while an increase in income from operations almost to three-quarters to Rs 9.5 billion. It had a net worth of Rs 2.66 billion, translating to Rs 12.21 per share with face value of Rs 5