Power Finance Corporation Board Meeting on May 16, 2026 to Discuss PFC-REC Merger
Power Finance Corporation Limited has intimated stock exchanges of a Board of Directors meeting on May 16, 2026, to discuss the proposed PFC-REC merger, filed under Regulation 29 of SEBI LODR. The trading window, closed since April 1, 2026, will continue to remain shut until further orders, with all designated persons advised not to trade in PFC's equity shares or securities during this period.
*this image is generated using AI for illustrative purposes only.
Power Finance Corporation Limited has notified the stock exchanges of an upcoming Board of Directors meeting, scheduled for May 16, 2026, to further consider and discuss the proposed merger of PFC and REC. The intimation, dated May 13, 2026, was filed pursuant to Regulation 29 of SEBI's Listing Obligations and Disclosure Requirements (LODR).
Board Meeting Details
The following key details have been disclosed regarding the scheduled board meeting:
| Parameter: | Details |
|---|---|
| Meeting Date: | May 16, 2026 |
| Purpose: | Further consideration and discussion of PFC & REC merger |
| Regulatory Basis: | Regulation 29 of SEBI LODR |
| Intimation Date: | May 13, 2026 |
| Reference Number: | No: 1:05:138: I: CS |
Trading Window Closure
In connection with the board meeting and the ongoing deliberations on the merger, Power Finance Corporation has provided the following timeline regarding the closure of its trading window:
- The trading window for equity shares and listed debt securities (including Tax Free Bonds) was closed from April 1, 2026, as intimated vide the company's letter dated March 25, 2026.
- A subsequent filing dated May 5, 2026 had indicated that the trading window would open with effect from May 16, 2026.
- In view of the scheduled board meeting, the company has now clarified that the trading window will continue to remain closed until further orders.
Advisory to Designated Persons
All designated persons and their immediate relatives have been advised not to deal — including buying, selling, or pledging — in PFC's equity shares and securities during the period of trading window closure. This advisory is in accordance with the company's Code of Practices & Procedures for Fair Disclosure of Unpublished Price Sensitive Information and Conduct for Regulating, Monitoring & Reporting of Trading in the Securities of Power Finance Corporation Limited.
The intimation was signed by Manish Kumar Agarwal, Company Secretary & Compliance Officer of Power Finance Corporation Limited, and has been submitted to both the National Stock Exchange of India Limited and BSE Limited for their information and record.
Historical Stock Returns for Power Finance Corporation
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.26% | -2.58% | +2.81% | +18.99% | +9.93% | +391.13% |
What valuation methodology is likely to be adopted for the PFC-REC merger, and how might the swap ratio impact minority shareholders of both entities?
How could the proposed merger affect the combined entity's capital adequacy ratios and its ability to fund India's ambitious renewable energy infrastructure targets?
What regulatory approvals from bodies such as RBI, CCI, and the Ministry of Power would be required before the PFC-REC merger can be formally executed?
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