PFC and REC Approve Merger to Create Rs 11 Lakh Crore Power Finance Giant

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State-owned Power Finance Corporation (PFC) and REC Ltd have approved a merger that will combine their lending portfolios into a single entity with over Rs 11 lakh crore in loans. The deal sets a share swap ratio under which REC shareholders will receive 88 PFC shares for every 100 REC shares they hold. The consolidation is intended to strengthen the combined balance sheet and improve operational efficiency in the power financing sector. The merger also aims to support India's broader energy transition and infrastructure development goals. The deal remains subject to regulatory approvals before it can be formally completed.

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