Outcome of Board Meeting held on May 16, 2026 - Intimation pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
PFC · price
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Power Finance Corporation (PFC) Board has reserved the proposal for merger of REC Limited into PFC pursuant to Sections 230-232 of the Companies Act, 2013. The Board authorized the CMD to seek approval from the Hon'ble President of India for the proposed merger. The share exchange ratio will be determined by duly appointed valuers. Upon completion, all assets and liabilities of REC will transfer to PFC, and REC will stand dissolved. The trading window for PFC equity shares and listed debt securities will continue to remain closed till further orders.
This is a significant consolidation in the government-owned financial sector. If approved, it would create a larger entity combining two major power sector lenders. Shareholders of both companies will be impacted by the share exchange ratio once finalized and approved.