The stock dipped 4 per cent to Rs 322 on the BSE.
At the NSE, it was down 4.19 percent at Rs 322.
Government will sell 5 percent stake in Rural Electrification Corporation on April 8 to mop up close to Rs 1,600 crore, marking the first disinvestment of the current
Taking the offer for sale (OFS) route, government will sell over 4.93 crore REC shares.
"The offer shall take place during trading hours on a separate window of the stock exchanges and shall commence on April 8," REC had said in a filing to the BSE on Monday.
The 5 percent share sale would fetch about Rs 1,600 crore to the exchequer.