REC Receives Presidential Approval for Merger with Power Finance Corporation

REC Limited has announced that it has received the necessary presidential approval for its proposed merger with Power Finance Corporation Limited (PFC). This development follows the Board of Directors' decision to seek approval for the merger. 

Approval Process for REC Limited Merger 

On June 10, 2026, REC Limited disclosed that the Ministry of Power had conveyed the approval of the Competent Authority for the merger with PFC.  

This approval is in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.  

The decision was initially reserved by the Board of Directors for the President of India's approval. 

Background of the Merger Proposal 

The proposal for the merger was initially communicated by REC Limited on May 16, 2026. The company had informed stakeholders about the Board of Directors' decision to pursue the merger, pending approval from the President of India.  

This merger aims to consolidate the operations of REC and PFC, both of which are significant entities in the power sector. 

Corporate Details of REC Limited 

REC Limited, a Government of India enterprise, operates under the status of a Maharatna company. Its registered office is located at Core-4, SCOPE Complex, Lodhi Road, New Delhi, while its corporate office is situated in Gurugram, Haryana.  

The company has a wide network of regional and state offices across India, including locations in Bengaluru, Mumbai, Chennai, and Hyderabad. 

Read More: Indian Government Removes Excise Duty on High-Blend Ethanol Petrol! 

REC Share Price Performance  

As of June 11, 2026, at 10:04 AM, REC share price on NSE was trading at ₹340.75 down by 2.31% from the previous closing price. 

Conclusion 

REC Limited has received presidential approval for its merger with Power Finance Corporation Limited. The Ministry of Power conveyed this approval on June 10, 2026, following the Board of Directors' proposal for the merger on May 16, 2026. 

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