Power Finance Corporation bought 52.63% stake of government in REC, REC became subsidiary – Market

Power Finance Corporation Limited (PFC), a leading non-banking finance company in the public sector, has purchased 52.63 percent shares of the government in REC Limited (REC), making REC its subsidiary. This acquisition has happened after getting in-principle approval from the Cabinet Committee on Economic Affairs (CCEA). The company’s board of directors has approved the acquisition of 52.63 percent stake of the central government in REC. This decision was taken in the board meeting held on Friday 6 February 2026. After this acquisition, REC will operate as a subsidiary of PFC and PFC will become its holding company.