REC Limited has officially received Presidential approval for its proposed merger into Power Finance Corporation Limited (PFC). This significant development follows an earlier intimation on May 16, 2026, where the Board of Directors had resolved to seek approval for the merger. The Ministry of Power conveyed the Competent Authority’s approval on June 10, 2026, marking a crucial step towards the amalgamation of these two prominent financial institutions.
Presidential Approval Secured for REC Merger
REC Limited has announced that it has received the necessary Presidential approval for its proposed merger with Power Finance Corporation Limited (PFC). This development signifies a major milestone in the amalgamation process.
Key Approval Milestone
The approval was conveyed by the Ministry of Power on June 10, 2026. This follows the Board of Directors’ earlier decision on May 16, 2026, to reserve the merger proposal for the approval of the Hon’ble President of India. The Competent Authority has now granted its consent, paving the way for the completion of the merger.
Formal Notification
This intimation is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. REC Limited confirms that the approval from the Competent Authority has been received in respect of the aforesaid proposal.
The company thanks the relevant authorities for their cooperation and looks forward to the next steps in the merger process.
Source: BSE
