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PFC eyeing over 25% growth in funds from capital gain bonds this fiscal

State-run Power Finance Corporation Limited (PFC) is targeting higher fund flow from 54EC capital gain bonds in the last two quarters of this fiscal

PFC ties up with IIT-Kanpur for research, training in smart grid technology

State-owned Power Finance Corporation (PFC) on Wednesday said it has signed an agreement with the Indian Institute of Technology- Kanpur for training, research, and entrepreneurship development in smart grid technology. As per the memorandum of association, the PFC will provide financial assistance of Rs 2.38 crore (Rs 2,38,97,000) to IIT-K under its CSR initiative. The objective of the pact is to provide support to IIT-K in developing infrastructure for research and development on smart grid technology, R Murahari, Executive Director (CSR&SD), PFC, said. As part of the project, the IIT-K will also provide training on smart grid technology to 90 participants and provide fellowship to nine selected candidates for development of ideas on smart grid technology. The fellows will be assisted by startup Innovation and Incubation Centre (SIIC) of IIT-K and encouraged to take up entrepreneurial activities.

PFC ends FY20 on a strong note, with loan sanctions of over Rs 1 trillion

State-owned financier Power Finance Corporation has ended financial year 2019-20 on a strong note, despite numerous challenges, including the outbreak of Covid-19

PFC lends Rs 22,000 cr to Narmada Basin Projects for 225 Mw hydel project

A wholly-owned company of the Madhya Pradesh govt, is building as many as 12 projects

PFC continues to fund non-performing coal assets despite mounting NPAs

PFC and REC have lent extensively to coal-fired power projects, with Rs 3.43 trillion, or 54% of their total loan books exposed to thermal power

PFC lists $750 million bonds at NSE IFSC; increases foreign borrowing

Looking at resolving 4 more stressed power assets this fiscal

Power Finance Corporation raises $750 million through overseas bonds

This is PFC's third international bond issuance in FY20 as well as the largest bond in a single tranche

Centre deallocates Odisha coal block allotted to PFC arm for power project

The coal ministry had in 2010 allocated the coal block in Odisha for a 4000 MW power project to be set up by Sakhigopal Integrated Power Company Ltd

NHPC gets debt commitment of Rs 4,500 cr from PFC, REC for Teesta project

The project will be implemented at an estimated project cost of Rs 5,748 crore which includes the bid amount

Earnings rebound seen for PFC, REC by 2020-21 on 50-60% NPA provision

Though analysts have turned positive, stocks remain prone to asset quality shocks

Power Finance Corp reports record standalone profit of Rs 6,953 cr for FY19

Speaking on the proposed merger of Rural Electrification Corporation (REC) with the company, PFC's CMD Rajeev Sharma said that due diligence was underway

PFC concludes REC acquisition with internal accruals, term loans

Quashing concerns regarding its financial strength post the acquisition, PFC executives said the company had 19 per cent capital adequacy in Q3FY19

PFC completes REC acquisition, pays Rs 14,500 cr to government

PFC bought REC shares at Rs 139.50 per piece with total acquisition cost of about Rs 14,500 crore.

PFC acquires govt stake in REC for Rs 14,500 crore

Board approved the acquisition at a cash purchase consideration of Rs 139.50 per share

RBSA Advisors valuation advisor for govt's stake sale in rural power firm

PFC may not be required to make an open offer to minority shareholders of REC after buying out the govt stake in the company as it is a related party transaction, said RBSA

PFC not to make open offer to REC's minority shareholders after acquisition

Based on the market price of REC on Dec 6, the govt stake in the company would be valued at around Rs 105 bn

S&P revises outlook on PFC to negative, flags concern on capital level

The company has an extremely high likelihood of timely and sufficient extraordinary support in the event of financial distress

PFC-REC merger likely to weigh on near-term financial performance

Additional market borrowing to raise funding cost

PFC aims for Rs 8 billion provision write-back from govt projects

Loans worth Rs 219.63 billion were upgraded to the standard category as they achieved the date of commencement of commercial operations

PFC, REC may be valued upwards

Both have managed to hold up their NIMs at 4.8-4.9% so far in FY17, and could again reach 6% in FY18