Power Finance Corporation Rec

President Murmu approves merger of REC with Power Finance Corporation

The President has approved the merger of REC Ltd with Power Finance Corporation, nearly seven years after PFC acquired the government's majority stake in REC. In March 2029, state-owned PFC completed the acquisition of the government's majority stake of 52.63 per cent in REC Ltd for Rs 14,500 crore. According to a regulatory filing by the REC, the Ministry of Power, vide its letter dated June 10, 2026, has conveyed the approval of the Competent Authority (President of India) in respect of the aforesaid proposal (merger of REC into PFC). On May 16, the Board of Directors at its meeting reserved the proposal for the merger of REC into PFC in view of approval of the proposal by the President of India. Upon the merger being duly approved under the applicable law and being made effective, all the assets and liabilities of the REC will be transferred to PFC, and REC will stand dissolved in accordance with the provisions of Sections 230-232 of the Companies Act 2013, REC had said. Financ

Merger involving $61 billion of debt seen aiding India's credit market

The government will merge state-run PFC and REC, a move fund managers say could channel more capital into major corporates and large power projects

State-owned REC Ltd sanctioned record Rs 3.59 trillion loan in FY24

State-owned REC has made record loan sanctions worth Rs 3.59 lakh crore during 2023-24, posting a year-on-year rise of 33.66 per cent. It had sanctioned Rs 2.68 lakh crore as loan during the preceding 2022-23 fiscal, the company said in an exchange filing. Of the total Rs 3.59 lakh crore, Rs 1.36 lakh crore were "renewable energy sanctions", higher from Rs 21,371 crore sanctioned for green projects a year ago. "REC Ltd has continued its growth trajectory and posted...strong operational performance with highest ever loan sanctions at Rs 3.59 lakh crore and the highest ever loan disbursements at Rs 1.61 lakh crore during the year 2023-24," it said. The disbursements were 66.72 per cent higher as compared to Rs 96,846 crore worth of loans disbursed in FY23. As of March 31, 2024, the company's loan book was at Rs 5.09 lakh crore, higher 17.13 per cent as against Rs 4.35 lakh crore in FY23. REC, under Ministry of Power, is a non-banking finance company (NBFC) focusing on power sector

Improving growth prospects powering Power Finance Corp, REC stocks

All analysts polled this month are bullish on the two power financiers and see further gains of 19-20 per cent in the next one year

Urge all states to take special loan, pass benefit to consumers: R K Singh

Minister of state for power says soft loans at 8-10% interest rate being given to discoms to help them pay dues

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

Power Finance Corporation, REC fall 10% on merger reports

PFC dipped 10.5% to Rs 91 and REC slipped 10% to Rs 110 on the BSE in intra-day trade.