MUMBAI (Reuters) - A sale of shares in India's state-run Rural Electrification Corp Ltd worth up to $250 million has been fully subscribed, at an indicative price of 316 rupees a share, news channel CNBC TV 18 reported.
The government, which owned 65.6 percent in REC before the sale, had said it would sell a 5 percent stake through an auction on Wednesday, at a floor price of 315 rupees a piece. The sale kicked off India's divestment programme for the fiscal year that started on April 1.
(Reporting by Abhishek Vishnoi; Editing by Clara Ferreira Marques)
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