The merger of two leading government-owned financers of the power sector will have a negative effect on the borrowings of the beleaguered state-owned power distribution companies, claim power generators.
Ahead of REC’s takeover by Power Finance Corporation (PFC), the government has appointed the former’s top executive P V Ramesh as the director-general of the National Archives of India.
The government, which is way short-meeting the disinvestment target of Rs 80,000 crore for this year, is set to ask state-owned power sector financier Power Finance Corporation (PFC) to buy its entire stake in REC at a premium of 20 per cent.
Power Finance Corporation (PFC) is likely to approach foreign banks for raising a portion of funds required to buy out the centre’s stake in REC as state-owned banks are likely to hit regulatory limits set on exposures to a single entity,
The proposed takeover of the government’s 52.63 per cent stake in Rural Electrification Corporation (REC) by Power Finance Corporation (PFC) is likely to stretch latter’s balance sheet and increase its leverage by up to Rs 15,000 crore, India Ratings said Tuesday.
Cabinet approval to the strategic sale of its nearly 53 percent stake in Rural Electrification (REC) to the Power Finance Corporation (PFC) will help the Modi government to move closer to its ambitious disinvestment target of Rs 80,000
The power ministry is considering a proposal under which state-run REC Ltd will buy entire 65.6 per cent government stake in Power Finance Corporation (PFC) for around Rs 16,000 crore at present market value, a move would
State-owned Power Finance Corporation, Rural Electrification Corporation and India Infrastructure Finance Co Ltd have accused Hyderabad-based Ind-Barath Power (Madras) Ltd, Ind-Barath Power Infra Ltd
State-owned Power Finance Corporation (PFC) Wednesday said it has received shareholders’ approval for raising up to Rs 65,000 crore through issuance of debentures on private placement basis.
Small lenders will submit their resolution plans on stressed power assets to a group of bankers and assess the situation on October 10, Financial Express reported quoting people aware of the development.