Merger10 Jun 2026, 07:01 pm
PFC Merger with REC Gets Presidential Approval
AI Summary
Power Finance Corporation Ltd (PFC) has received approval from the Hon'ble President of India for the proposed merger of REC Limited into PFC. This significant development follows the company's intimation on May 16, 2026, regarding the board's decision to seek presidential assent. The Ministry of Power conveyed the approval on June 10, 2026. This merger is expected to create a stronger financial entity in the power sector.
Key Highlights
- Presidential approval granted for REC Limited's merger into PFC.
- Ministry of Power conveyed the approval on June 10, 2026.
- The merger was previously approved by PFC's Board of Directors.
- This marks a significant step towards consolidation in the power finance sector.
Price Impact
More from PFC