Power Finance Corporation Ltd

Power Finance Corporation Ltd

Power Finance Corporation Ltd (PFC) has announced that its Board of Directors will convene a meeting on June 28, 2026. The primary agenda for this meeting is to consider and approve a scheme of merger between Power Finance Corporation Limited and REC Limited. This significant corporate action will be subject to the provisions of the Companies Act, 2013, SEBI Listing Regulations, and other applicable laws and guidelines. The trading window for dealing in PFC securities remains closed in anticipation of this material event.

Power Finance Corporation Ltd

Power Finance Corporation Ltd (PFC) has successfully priced an issuance of U.S. $300 million 5.32% notes due 2031 under its Global Medium Term Note Programme. Priced on June 22, 2026, with settlement expected by June 30, 2026, the notes carry a 5.32% annual coupon payable semi-annually. The net proceeds will be utilized in accordance with RBI's external commercial borrowing guidelines, and the notes will be listed on NSE IFSC and India INX.

Power Finance Corporation Ltd

Power Finance Corporation Ltd (PFC) announced the appointment of Shri Pankaj Gupta (DIN: 03415536) as a part-time Non-Official Director on its Board. His tenure is for three years or until further orders, effective from assuming the position. Shri Gupta is a Chartered Accountant with over 25 years of professional experience in taxation, audit, and corporate advisory, possessing expertise in financial and regulatory compliances. The company confirmed he is not debarred by SEBI or any other authority.

Power Finance Corporation Ltd

Power Finance Corporation Ltd (PFC) has announced the strike-off and dissolution of its wholly-owned subsidiary, Bihar Infrapower Limited, by the Registrar of Companies. This subsidiary was established in 2015 as a Special Purpose Vehicle to manage licenses for the Bihar Ultra Mega Power Project, which was subsequently shelved. The Ministry of Power provided approval for its closure in 2025, leading to the completion of the necessary regulatory filings.