The Ministry of Power has conveyed the approval of the Competent Authority for the proposed merger of REC Limited into Power Finance Corporation (PFC), marking a significant development in the restructuring of two of India’s leading power sector financing institutions.
REC informed the stock exchanges on June 10, 2026, that it had received Presidential approval for the merger proposal through a communication issued by the Ministry of Power. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The company stated that the approval follows its earlier disclosure dated May 16, 2026, in which the Board of Directors had decided to place the merger proposal before the Hon’ble President of India for consideration and approval.
According to the filing, the Ministry of Power, through its letter dated June 10, 2026, formally conveyed the approval of the Competent Authority regarding the proposed amalgamation of REC into PFC.
The development represents a key milestone in the proposed consolidation process involving the two government-backed financial institutions that play a critical role in funding India’s power and infrastructure sectors.
REC communicated the approval to both the National Stock Exchange of India (NSE) and BSE Limited through an official regulatory filing signed by Dinesh Garg, Company Secretary and Compliance Officer of the company.
Further details regarding the merger process and subsequent regulatory steps are expected to be announced in due course.
