This is further to our letter dated May 13, 2026, intimating the date of board meeting for considering and discussing the matter related to merger of Power Finance Corporation Limited ('PFC') ....
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 has approved authorization to 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 equity shares and listed debt securities will continue to remain closed till further orders.
This is a significant consolidation in the power financing sector as two large government-owned financial institutions merge. The share exchange ratio is yet to be determined pending valuers' assessment. The deal remains subject to Presidential approval, NCLT clearance, and other regulatory consents.