PFC-REC merger explained: Swap ratio, rationale, other key details as merger set to create Rs 11 lakh cr power financing giant

The proposed merger of Power Finance Corporation and REC will create India's largest power sector financing institution with a combined loan book exceeding Rs 11 lakh crore. Here's a look at the approved share swap ratio, merger rationale, pending approvals, record date details, and what the restructuring means for shareholders.