What was filed
In an intimation under Regulation 29 of the SEBI LODR Regulations, Power Finance Corporation Limited (PFC) told the BSE and NSE that a meeting of its Board of Directors is scheduled for Sunday, 28 June 2026. The agenda, per the filing, is to consider and approve a scheme of merger between PFC and REC Limited and their respective shareholders and creditors.
The company said the proposed scheme is being pursued under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013, together with the relevant provisions of the Listing Regulations and other applicable laws.
Trading window already closed
PFC noted that this is a continuation of earlier intimations dated 25 March 2026, read with 5 May 2026 and 13 May 2026. In line with the company's code for fair disclosure of unpublished price-sensitive information, the trading window for PFC's equity shares and listed debt securities was closed from 1 April 2026 until further orders.
Accordingly, the filing states that designated persons and their immediate relatives have been advised not to deal in PFC's shares or securities during the closure period.
Why a holder would note it
This intimation is procedural — it announces a board meeting date and the matter to be taken up. It does not contain the merger scheme itself, a share exchange ratio, or any financial terms. Those, if approved, would follow in a subsequent disclosure. What the filing confirms is that the PFC–REC merger has reached the stage of being placed before the board for approval.