Pfc

PFC, REC merger hits roadblock as amalgamation to violate RBI norms on debt exposure of state-owned shadow banking firm

In March 2019, PFC had completed acquisition of a majority stake in REC by transferring Rs 14,500 crore to the government with hope of merger of the two firms in 2019-20.

Govt sector contributes 40% of GVA growth in Q2, gold outlook for 2020; all this and more on Moneycontrol Pro

Since overall real GVA growth in the September quarter was 4.3 percent, it’s pretty clear the government sector contributed handsomely to growth.

Power Finance Corp raises $1 bn from global market through issuance of bonds; shares decline by over 1%

This was PFC's first issuance in the international market after acquiring the government's shareholding in REC, the company said in a BSE filing.

Power Finance Corporation's Q4 net profit jumps over two-and-a-half times to Rs 2,117 cr

State-owned Power Finance Corporation's (PFC) standalone net profit has risen over two-and-a-half times to Rs 2,117.56 crore in the March quarter, mainly due to higher revenues

Power gencos outstanding dues on discoms jumps 63% to nearly Rs 39,000 cr in March; sector's stress mounts

According to PRAAPTI portal, distribution companies owed a total of Rs 23,699 crore to power generation companies in March 2018.

PFC completes REC acquisition, pays Rs 14,500 cr to govt; deal helps meet disinvestment target for current fiscal

PFC has raised money from Bank of Baroda, Life Insurance Corporation and State Bank of India, among others, to make the payment.

PFC to pay entire Rs 14,500 cr to government on Thursday for acquiring 52.63% stake in REC

State-owned Power Finance Corporation (PFC) on Thursday will make the entire payment of Rs 14,500 crore to the government for acquiring 52.63 percent stake in REC, a source said

ArcelorMittal offers Rs 4,800 cr for stressed Essar Mahan power project, lenders to soon decide on proposal

In October last year, Essar Group commissioned both units of the Essar Mahan power plant.

PFC allays investor concerns over govt stake buyout in REC, says acquisition deal size yet to be finalised

On 20 December, the PFC's board gave in-principle approval to the acquisition of the REC, it said.

Fitch Ratings assigns Power Finance Corporation's $300 mn bond final rating of 'BBB-'

The bond is rated in line with PFC's Long-Term Issuer Default Rating (IDR) of 'BBB-', and the net proceeds of the bond are being used for general corporate purposes, a Fitch statement said elaborating key rating drivers.