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RECLTD · REC Limited · BSE · Filed 23 Jun · 1 min read

REC Board to Consider Merger Scheme with Power Finance Corporation on 28 June

REC Limited has called a board meeting for 28 June 2026 to consider and approve a scheme of merger between REC and Power Finance Corporation Limited.

What was filed

REC Limited told the BSE and NSE that its Board of Directors will meet on Sunday, 28 June 2026, to consider and approve a Scheme of Merger amongst REC and Power Finance Corporation Limited and their respective shareholders and creditors. The company said the scheme is being considered pursuant to Sections 230 to 232 and other applicable provisions of the Companies Act, 2013, along with the relevant provisions of the SEBI Listing Regulations and other applicable laws. The intimation was made under Regulation 29 of the Listing Regulations.

What the filing does and does not say

This is an advance notice that the matter will be placed before the board — it is not the approval itself, and no terms of the proposed merger, such as a share-exchange ratio or structure, are disclosed in the filing. REC also noted that its trading window has been closed since 14 May 2026 and will remain closed until further orders, with Designated Persons and their immediate relatives advised not to deal in REC's listed securities during this period.

A merger between REC and Power Finance Corporation, two large government-owned power-sector financiers, would be a structural event for holders of either company; the 28 June board meeting is the procedural step where the scheme is first considered, though the filing discloses no terms and an extended trading-window closure remains in effect.