Key Details
Symbol (NSE): Not Specified
Corporate Action: Merger (REC Limited with and into Power Finance Corporation Limited)
Record Date: Not Specified
Nature of Scheme: Merger of REC Limited (Transferor Company) with and into Power Finance Corporation Limited (Transferee Company)
Entities Involved:
- Transferor Company: REC Limited
- Transferee Company: Power Finance Corporation Limited
Demerged Company: Not Applicable (Merger)
Resulting Company: Power Finance Corporation Limited (surviving entity)
Share Entitlement Ratio: Not Specified
Implied Capital Structure Impact: Not Specified
Post-Allotment Listing Plan: Not Specified
Regulatory and Approval Status:
- RBI no objection certificate received on October 15, 2026, subject to instructions/conditions specified therein
- Scheme remains subject to statutory and regulatory approvals
- Requires approval of respective shareholders and creditors of both companies
- Requires fulfilment of conditions to effectiveness of the Scheme
Effective Date: Not Specified
Financial Rationale: Not Specified
Impact on Shareholders: Not Specified
Historical Context
The respective Board of Directors of both companies had approved the Scheme on June 28, 2026, subject to receipt of applicable regulatory and other approvals.