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The Economic Times

Debaroti Adhikary

PFC-REC merger approved! Here's what will happen to your existing shares after mega merger

PFC REC Harshal Dasani India Power Finance Corporation

The boards of Power Finance Corporation (PFC) and REC on Sunday approved the much-awaited merger scheme between the two companies, with the share-swap ratio set at 88 PFC shares for every 100 REC shares held.

The mega merger of the two power-sector financiers is set to create India's largest power-sector financing institution, with a combined loan book of more than Rs 11 lakh crore. PFC owns a 52.63% stake in REC. The Centre owns 55.99% in PFC but does not directly own a stake in REC.

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