PFC-REC merger approved: What happens to REC shares, swap ratio and shareholders now?

The boards of state-run Power Finance Corporation (PFC) and REC Ltd on Monday approved their proposed merger, paving the way for the creation of a power sector financing giant with a combined loan book of over Rs 11 lakh crore. The merger, subject to statutory and regulatory approvals, will consolidate the two state-owned non-banking finance companies into a single balance sheet.

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