PFC-REC merger approved! Here's what will happen to your existing shares after mega merger

The boards of PFC and REC have approved the merger of REC into PFC with a share exchange ratio of 88 PFC shares for every 100 REC shares. The combined entity will create India's largest power-sector financing institution with a combined loan book exceeding Rs 11 lakh crore, though the scheme still requires approvals from shareholders, stock exchanges, SEBI, and NCLT. PFC currently holds 52.63 percent in REC, while the Centre holds 55.99 percent in PFC.