REC Limited opened for subscription today and received a decent response on the first day. 29% of the issue was subscribed on day one. The QIB portion is half subscribed with subscriptions coming between Rs 204 to Rs 210. The response is for 4.44 cr shares. The non-institutional portion has received subscription of 0.49 cr shares. The retail portion has received subscription of 0.03 cr shares but one must remember that retail typically subscribes on the last day only.

The overall subscription received on day one is 4,97,14,800 shares against 17,17,32,000 shares. There are two more days to go, with the issue closing on Tuesday the 23rd of February 2010. So far indications suggest that the issue has received good response and this issue would fare well.