REC and PFC merger approved at 88:100 share swap
pre-market1 source ↓written by the desknot a recommendation
- and will maintain
- ₹11 lakh crore
The Board of Directors of REC Limited and Power Finance Corporation Limited approved a merger scheme, creating a larger financing entity in the power sector. The share exchange ratio is set at 88 shares of PFC for every 100 shares of REC. The merged entity will have a loan book exceeding ₹11 lakh crore and will maintain its status as a Government Company.
This merger is subject to approvals from shareholders, creditors, and regulatory authorities, potentially reshaping the financing landscape in the power sector.
Not investment advice. For informational purposes only.