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.
Power Finance Corporation said Wednesday the worst was behind for stressed power assets and it would finalise resolution plans with five struggling projects with an exposure of Rs 8,254 crore in one month.
Union power secretary Ajay Kumar Bhalla has convened a meeting with banks, state undertakings, including Power Finance Corporation and Rural Electrification Corporation, and oganisations representing power generating companies on August 17 to discuss options to address issues faced by stressed power projects.
Power Finance Corporation (PFC) will seek its shareholders approval to raise Rs 65,000 crore through issuance of debt securities on private placement basis in India or abroad at its annual general meeting on September 11, 2018.