PFC to make entire payment of Rs 14,500 crore for REC acquisition
27th Mar 2019

Power Finance Corporation (PFC) will make the entire payment of Rs 14,500 crore to the government for acquiring 52.63% stake in REC, on March 28, 2019. The deal would help the government meet its disinvestment target of Rs 80,000 crore for the current financial year ending on March 31.

The entire consideration of Rs 14,500 crore for acquiring 52.63% equity of Government of India will be paid by the PFC through RTGS (real-time gross settlement) mode.

PFC provides large range of financial products and services like project term loan, lease financing, direct discounting of bills, short term loan, and consultancy services for various power projects in generation, transmission, distribution sector as well as for renovation and modernization of existing power projects.