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…
Power Finance Corporation Ltd (PFC) has purchased 52.63% of the government’s shares in REC Limited (REC), thereby establishing REC as its subsidiary. This acquisition follows the ‘in-principle’ approval from the Cabinet Committee on Economic Affairs (CCEA). The purchase follows the 2026-27 Union Budget plan for NBFCs, which focuses on increasing credit distribution and implementing technology…
Power Finance Corporation (PFC) announced plans to raise ₹5,000 crore through a non-convertible debenture (NCD) issue, the country’s largest retail issue of bonds in nearly 8 years. The company will issue NCDs of 15-year tenor, and offer a coupon rate of 7.3% payable on an annual basis. The base size of the issue is ₹500…
