REC Board Approves In-Principle Merger with Power Finance Corporation (PFC)

New Delhi: REC Limited (RECLTD) announced that its Board of Directors has granted in-principle approval for a merger with Power Finance Corporation Limited (PFC).

The decision follows the Union Budget 2026-27 announcement by the Finance Minister regarding the restructuring of public sector NBFCs to achieve scale and improve operational efficiency.

The Board will now formulate a detailed merger proposal in accordance with applicable laws, ensuring that the merged entity continues as a Government Company under the Companies Act, 2013.

The final merger scheme will be shared once it receives the necessary approvals.

REC Corporate Details:

• NSE Scrip Code: RECLTD

• BSE Scrip Code: 532955

• Headquarters: Gurugram, Haryana

• Website: www.recindia.nic.in

Statement from the Company:
“The Board has taken note of the Finance Minister’s announcement and approved, in principle, to proceed with restructuring in the form of a merger with PFC. Detailed plans will follow after regulatory approvals,” said Dinesh Garg, Company Secretary & Compliance Officer, REC Limited.