REC Limited Board approves merger proposal with Power Finance Corporation Limited
REC · Finance
Key highlights
- Board reserved merger proposal of REC into PFC for approval by Hon'ble President of India as per Companies Act sections 230-232.
- Authorization given to CMD of REC to apply for approval with share exchange ratio determined by valuers and conditions to maintain government company status.
- Appointment of Mr. Mohammed Azaz Ali as Chief Compliance Officer effective May 17, 2026, until superannuation on June 30, 2028.
Why it's rated notable: The merger is non-binding, subject to President of India approval and a valuers' share exchange ratio, and the filing states no value, so the level stays at medium.
Original filing
Board Meeting Outcome for Outcome Of Board Meeting Held On May 16, 2026.
Read the filing on BSE (PDF) →Companies guiding to strong growth
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More from REC
- Acquisition / mergerMajor development· Adverse for the businessREC Limited Q2 FY27 results declared; 2nd interim dividend of ₹3.50 per share
- Acquisition / mergerMajor development· Adverse for the businessREC Limited files unaudited financial results for Q2 and half year ended Sept 30, 2026
- Acquisition / mergerNotableREC Limited gets NSE and BSE No Objection Letters for merger with Power Finance Corp
- Acquisition / mergerNotableREC Limited receives RBI No Objection Certificate for merger with Power Finance Corporation
- Fundraise / allotmentNotableREC Limited board approves merger by absorption into Power Finance Corporation Limited
Other acquisition / merger filings this fortnight
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- Novus Loyalty Limited approves acquisition of AutoPe Payment Solutions via share swap
- Shish Industries Limited files Composite Scheme of Amalgamation proposal
- Jubilant Ingrevia Limited updates on acquisition of 40% stake in Zettaone Technologies
- NHC Foods approves quarter results, 99.98% Sachmaas Foods investment, two appointments
Potential multibaggers · Q2 FY27
Potential multibaggers in Finance
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Summary written by Arthneeti from the company's filing with the stock exchange; check the original filing for full details. Arthneeti is a research and analytics platform, not a SEBI-registered investment adviser, and nothing here is a recommendation to buy or sell.