PFC and REC boards approve merger with 88:100 share ratio

English

The boards of Power Finance Corporation and REC Ltd have approved a merger scheme that will create India's largest power financier.

Power Finance Corporation and REC Ltd boards have greenlit their merger. The approved share swap ratio stands at 88 PFC shares for every 100 REC shares.

The combined entity will hold over Rs 11 lakh crore in loans. Officials said the move aims to boost operational efficiency and strengthen the balance sheet.

The new company is positioned to fund India's energy transition and infrastructure growth.

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