The boards of Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) have approved their merger, creating an entity valued at approximately Rs 11 lakh crore. The merger will proceed on a share-swap basis where REC shareholders will receive 80 PFC shares for every 100 REC shares. The Indian government will retain majority stake and voting rights. Major firms like Deloitte and Cyril Amarchand Mangaldas have been appointed as advisors for this significant consolidation in the power financing sector. https://sambad.in/india-and-beyond/pfc-rec-merger-approved-11-lakh-crore-power-finance-entity-12116727 #creator program