Cabinet may consider REC stake sale to PFC on Thursday-June 2024-www.financetom.com

Cabinet may consider REC stake sale to PFC on Thursday

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Cabinet may consider REC stake sale to PFC on Thursday

Dec 5, 2018 1:49 PM

The cabinet on Thursday may consider the proposal for Power Finance Corporation (PFC) acquiring entire government holding in state-owned Rural Electrification Corporation (REC). This will fetch the government around Rs 12,000 crore.

The government held 57.99 percent in REC, and 65.64 percent in PFC as of September-end. However, government holding in REC has come down to 52.63 percent following stake sale through exchange-traded fund.

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