Rec Pfc Merger

Power Finance Corporation Q4 result: Net profit up 23% at Rs 7,556 cr

The company is expected to borrow around Rs 1 trillion to 1.20 trillion in the financial year

Three NBFCs looking to raise funds through dollar bond issue, say bankers

Manappuram Finance, Muthoot Finance and state-run REC are aiming to issue benchmark-sized bonds, which means the issuance will be around $500 million each, the three bankers said

State-owned REC Ltd sanctioned record Rs 3.59 trillion loan in FY24

State-owned REC has made record loan sanctions worth Rs 3.59 lakh crore during 2023-24, posting a year-on-year rise of 33.66 per cent. It had sanctioned Rs 2.68 lakh crore as loan during the preceding 2022-23 fiscal, the company said in an exchange filing. Of the total Rs 3.59 lakh crore, Rs 1.36 lakh crore were "renewable energy sanctions", higher from Rs 21,371 crore sanctioned for green projects a year ago. "REC Ltd has continued its growth trajectory and posted...strong operational performance with highest ever loan sanctions at Rs 3.59 lakh crore and the highest ever loan disbursements at Rs 1.61 lakh crore during the year 2023-24," it said. The disbursements were 66.72 per cent higher as compared to Rs 96,846 crore worth of loans disbursed in FY23. As of March 31, 2024, the company's loan book was at Rs 5.09 lakh crore, higher 17.13 per cent as against Rs 4.35 lakh crore in FY23. REC, under Ministry of Power, is a non-banking finance company (NBFC) focusing on power sector

REC to issue multiple-tenor bonds to raise up to 10 billion rupees

REC plans to raise up to Rs 1,000 cr ($120.43 million), including a greenshoe of Rs 500 crore billion, through bonds maturing in over three years

State-owned PFC commits Rs 25,000 cr for power sector projects in Gujarat

State-owned Power Finance Corporation has inked an initial pact with the Gujarat government to provide comprehensive financial backing for the state's generation, transmission, and distribution projects. Power Finance Corporation (PFC) signed an MoU with the government of Gujarat on January 3, 2024, according to a company statement issued on Wednesday. The MoU was signed by Parminder Chopra, CMD PFC and Jai Prakash Shivhare, MD (GUVNL) in the presence of Bhupendra Patel, Chief Minister of Gujarat. The chief objective of this MoU is to provide comprehensive financial backing for the state's generation, transmission, and distribution projects. The MoU, signed in Gandhinagar, marks a significant step towards bolstering various projects undertaken by the Gujarat Urja Vikas Nigam Limited (GUVNL), Gujarat State Electricity Corporation Limited (GSECL), Gujarat Energy Transmission Corporation Ltd (GETCO), Dakshin Gujarat Vij Company Ltd (DGVCL), Madhya Gujarat Vij Company Ltd (MGVCL), Pasc

Fused entity to have enough cash to loan private players: PFC on REC merger

PFC and REC can separately lend up to 25 per cent of their net worth to a single borrower/ project, and lending to a group borrower could be 40 per cent, PFC informed the BSE

8.5% coupon rate for AAA-rated REC bonds stirs up market participants

The deal is unusual because just two days ago, NTPC, another AAA-rated government firm, raised a three-year fund at 7.93%

Centre's disinvestment plan to get a boost if REC-PFC merger happens

Senior power ministry officials, Dipam officials, and representatives from REC and PFC met Finance Minister Arun Jaitley last week, to discuss the merger proposals

Centre considers REC-PFC merger to bridge budget gap ahead of 2019 polls

Modi's government is seeking ways to narrow the country's budget deficit to help finance public welfare projects ahead of elections