REC news - newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra https://newsmantra.in/tag/rec-news/ Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra Tue, 30 Jun 2026 06:13:04 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.3 https://newsmantra.in/wp-content/uploads/2019/05/cropped-newmantra-logo-32x32.png REC news - newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra https://newsmantra.in/tag/rec-news/ 32 32 PFC and REC Boards Approve Merger Scheme to Create Rs 11 Lakh Crore Lending Giant https://newsmantra.in/pfc-rec-merger-approved-rs-11-lakh-crore-lending-giant/ Tue, 30 Jun 2026 06:13:04 +0000 https://newsmantra.in/?p=82239 NEW DELHI. The Boards of Directors of Power Finance Corporation Limited (PFC) and REC Limited (REC) have approved a Scheme of Merger under the Companies Act, 2013, for the amalgamation of REC into PFC, subject to the approval of shareholders, creditors, regulatory and government authorities, and the condition that the...

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]]> NEW DELHI. The Boards of Directors of Power Finance Corporation Limited (PFC) and REC Limited (REC) have approved a Scheme of Merger under the Companies Act, 2013, for the amalgamation of REC into PFC, subject to the approval of shareholders, creditors, regulatory and government authorities, and the condition that the merged entity continues to qualify as a Government Company with the Government of India retaining majority control. The proposed merger will create one of the country’s largest infrastructure financing institutions with a combined loan book exceeding Rs 11 lakh crore. As per the approved valuation report, REC shareholders will receive 88 fully paid equity shares of PFC of Rs 10 each for every 100 fully paid equity shares of REC of Rs 10 each held on the record date, which will be announced by the Boards of the two companies at a later stage.

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]]> Presidential Nod for REC and PFC Amalgamation https://newsmantra.in/presidential-nod-rec-pfc-amalgamation/ Thu, 11 Jun 2026 13:17:55 +0000 https://newsmantra.in/?p=81537 NEW DELHI. In a major development for the power sector, REC Limited announced that the Ministry of Power has conveyed the competent authority’s approval for its proposed merger into Power Finance Corporation Limited. This follows a decision by REC’s Board on May 16, 2026, to reserve the proposal for the...

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]]> NEW DELHI. In a major development for the power sector, REC Limited announced that the Ministry of Power has conveyed the competent authority’s approval for its proposed merger into Power Finance Corporation Limited. This follows a decision by REC’s Board on May 16, 2026, to reserve the proposal for the President of India’s approval. The formal regulatory disclosure was submitted to the stock exchanges under Regulation 30 of the SEBI Listing Regulations.

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