PFC receives NOC from NSE & BSE for REC merger

Power Finance Corporation Ltd (PFC) has received No Objection letters from BSE Limited and National Stock Exchange of India Limited for the proposed scheme of merger of REC Limited with and into PFC. This follows the board approvals received on June 28, 2026. The merger is subject to other regulatory approvals, including from the RBI, and the approval of shareholders and creditors. SEBI has provided comments on the draft scheme, emphasizing disclosure of ongoing proceedings, fulfillment of conditions, potential approvals for changes in share exchange ratio, and compliance with various regulations and circulars.