REC Limited (RECLTD) — Board Meeting

📢 Key Event
Board approved merger of REC into PFC with 88:100 share exchange ratio and fundraise plan.

🔄 What Changed
Merger approved; fundraise proposal introduced.

🔮 What's Next
Fundraising via private placement of bonds up to ₹40,000 crores, subject to shareholder approval at AGM.

💡 Investor Takeaway
The merger consolidates power sector financing under PFC and may dilute REC shareholders while expanding capital access.

REC Limited announced the board approved a merger with Power Finance Corporation (PFC) effective June 28, 2026, where each 100 REC shares will be exchanged for 88 PFC shares, and plans to raise up to ₹40,000 crores via private placement of bonds subject to shareholder approval at the upcoming AGM.

📄 View Original Announcement (PDF)

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