Power Finance Corporation Ltd Latest developments

REC merger remains the key corporate event. PFC and REC have approved the scheme under which REC would merge into PFC, subject to the required regulatory, creditor and shareholder approvals. The stated share-exchange ratio is 88 fully paid PFC shares for every 100 REC shares. PFC says the combined lender would have an aggregate loan book of more than ₹11 lakh crore. PFC closed around ₹346.0–₹346.8 on September 23, broadly unchanged on the day. The stock opened at ₹345.55, traded between ₹344.55 and ₹349.95, and was about 16.2% lower over six months and 15.4% lower over one year, according to the quoted market-data source. Pankaj Gupta ceased to be a Non-Executive Independent Director on September 22, 2026, after completing the three-month tenure specified in the Ministry of Power order dated June 22.