Power Finance Corpn.
New to Zerodha? Sign-up for free.
New to Zerodha? Sign-up for free.
Get instant stock alerts
- Share Price
- Financials
- Revenue mix
- Shareholdings
- Peers
- Forensics
Share Price
Coming soon
- 5D
- 1M
- 6M
- YTD
- 1Y
- 5Y
- MAX
Financials
-
Summary
-
Profit & Loss
-
Balance sheet
-
Cashflow
This data is currently unavailable for this company.
| (In Cr.) |
|---|
| (In Cr.) | ||||
|---|---|---|---|---|
|
This data is currently unavailable for this company. |
| (In %) |
|---|
| (In Cr.) |
|---|
| Financial Year (In Cr.) |
|---|
Revenue mix
-
Product wise
-
Location wise
Revenue Mix
This data is currently unavailable for this company.
Revenue Mix
This data is currently unavailable for this company.
Forensics
Recent events
-
News
-
Corporate Actions
MUMBAI, Sept 3 (Reuters) - India's Power Finance Corp PWFC.NS accepted bids worth 42.43 billion rupees ($449.05 million)for the sale of bonds maturing in five years and 10 years, three bankers said on Thursday.
The financier will pay a coupon of 7.60% and 7.61%, respectively, and had invited commitment bids from bankers and investors earlier in the day, they added.
The company did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on September 3:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 5 years | 7.60 | 19.75 | September 3 | AAA (Care, Icra, Crisil) |
PFC | 10 years | 7.61 | 22.68 | September 3 | AAA (Care, Icra, Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 94.4875 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)
MUMBAI, Sept 3 (Reuters) - India's Power Finance Corp PWFC.NS accepted bids worth 42.43 billion rupees ($449.05 million)for the sale of bonds maturing in five years and 10 years, three bankers said on Thursday.
The financier will pay a coupon of 7.60% and 7.61%, respectively, and had invited commitment bids from bankers and investors earlier in the day, they added.
The company did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on September 3:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 5 years | 7.60 | 19.75 | September 3 | AAA (Care, Icra, Crisil) |
PFC | 10 years | 7.61 | 22.68 | September 3 | AAA (Care, Icra, Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 94.4875 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)
MUMBAI, Sept 1 (Reuters) - India's Power Finance Corp PWFC.NS plans to raise 50 billion rupees ($526.6 million), which includes a greenshoe option of 40 billion rupees, through the sale of bonds maturing in five years and 10 years, three bankers said on Tuesday.
The financier has invited coupon and commitment bids from bankers and investors on Thursday, they added.
The company did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on September 1:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 5 years | To be decided | 5+20 | September 3 | AAA (Care, Icra, Crisil) |
PFC | 10 years | To be decided | 5+20 | September 3 | AAA (Care, Icra, Crisil) |
L&T Finance Sept 2029 Reissue | 3 years | 7.80 (yield) | 5 | September 1 | AAA (Crisil, Care) |
SIDBI | 3 year and 1 month | 7.70 | 58.89 | September 1 | AAA (Care, Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 94.9500 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
MUMBAI, Sept 1 (Reuters) - India's Power Finance Corp PWFC.NS plans to raise 50 billion rupees ($526.6 million), which includes a greenshoe option of 40 billion rupees, through the sale of bonds maturing in five years and 10 years, three bankers said on Tuesday.
The financier has invited coupon and commitment bids from bankers and investors on Thursday, they added.
The company did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on September 1:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 5 years | To be decided | 5+20 | September 3 | AAA (Care, Icra, Crisil) |
PFC | 10 years | To be decided | 5+20 | September 3 | AAA (Care, Icra, Crisil) |
L&T Finance Sept 2029 Reissue | 3 years | 7.80 (yield) | 5 | September 1 | AAA (Crisil, Care) |
SIDBI | 3 year and 1 month | 7.70 | 58.89 | September 1 | AAA (Care, Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 94.9500 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
By Dharamraj Dhutia
MUMBAI, Aug 31 (Reuters) - Indian companies are turning to longer-term debt to tap strong demand from insurers and pension funds as the yield gap across maturities narrows, reducing the appeal of near-term borrowing, five investors and bankers said.
Four state-run companies have raised 120 billion rupees ($1.26 billion) through bonds maturing in 10 years or more over the past four days, the bankers said.
Four or five more plan similar issues in September, three of the bankers said.
The yield gap has narrowed, with shorter-duration corporate bond yields seeing a spike after hawkish commentary from the central bank, which brought rate hikes back on the table for 2026.
"The underlying demand for long-duration assets from insurers and pension funds remains primarily driven by their growing corpus, liability matching requirements and the relative attractiveness of yields," said Vinay Pai, MD & Head of Fixed Income at Equirus Capital.
"Insurance companies and pension funds are seeing growing investible corpuses and need to match these with long-duration liabilities," he said.
State-run Power Finance Corp PWFC.NS and REC RECM.NS raised 25 billion rupees each through 15-year and 10-year bonds last week.
Bajaj Finance raised 50 billion rupees through 10-year notes, while Cholamandalam Investment raised 20 billion rupees via perpetual bonds with a 10-year call option.
PFC and REC could return to the market, while the National Bank for Financing Infrastructure and Development (NaBFID) and National Bank for Agriculture and Rural Development (NABARD) may also sell longer-dated debt in September, bankers said.
Life Insurance Corp, India's largest insurer, was the sole buyer of Bajaj Finance's notes, while the premiums on PFC and REC bonds over comparable government debt fell to 18-month lows.
Bankers said limited issuance of long-dated debt by highly rated companies, state governments and New Delhi was also driving demand.
New Delhi cut the share of ultra-long, 30-year to 50-year bonds in its April–September borrowing programme to 25%, from 35% a year earlier.
In addition, moderation in state debt issuance following the heavy supply seen in January–March has supported demand for long-dated paper, Sachin Bajaj, Executive Vice President and Chief Investment Officer at Axis Max Life Insurance, said.
Still, some investors said the trend may be short-term.
"The recent issuances do not signal a structural shift" and were instead absorbed by investors with specific requirements, said Vidya Iyer, head of fixed income at ICICI Prudential Life Insurance.
($1 = 95.4200 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Nivedita Bhattacharjee)
(([email protected];))
By Dharamraj Dhutia
MUMBAI, Aug 31 (Reuters) - Indian companies are turning to longer-term debt to tap strong demand from insurers and pension funds as the yield gap across maturities narrows, reducing the appeal of near-term borrowing, five investors and bankers said.
Four state-run companies have raised 120 billion rupees ($1.26 billion) through bonds maturing in 10 years or more over the past four days, the bankers said.
Four or five more plan similar issues in September, three of the bankers said.
The yield gap has narrowed, with shorter-duration corporate bond yields seeing a spike after hawkish commentary from the central bank, which brought rate hikes back on the table for 2026.
"The underlying demand for long-duration assets from insurers and pension funds remains primarily driven by their growing corpus, liability matching requirements and the relative attractiveness of yields," said Vinay Pai, MD & Head of Fixed Income at Equirus Capital.
"Insurance companies and pension funds are seeing growing investible corpuses and need to match these with long-duration liabilities," he said.
State-run Power Finance Corp PWFC.NS and REC RECM.NS raised 25 billion rupees each through 15-year and 10-year bonds last week.
Bajaj Finance raised 50 billion rupees through 10-year notes, while Cholamandalam Investment raised 20 billion rupees via perpetual bonds with a 10-year call option.
PFC and REC could return to the market, while the National Bank for Financing Infrastructure and Development (NaBFID) and National Bank for Agriculture and Rural Development (NABARD) may also sell longer-dated debt in September, bankers said.
Life Insurance Corp, India's largest insurer, was the sole buyer of Bajaj Finance's notes, while the premiums on PFC and REC bonds over comparable government debt fell to 18-month lows.
Bankers said limited issuance of long-dated debt by highly rated companies, state governments and New Delhi was also driving demand.
New Delhi cut the share of ultra-long, 30-year to 50-year bonds in its April–September borrowing programme to 25%, from 35% a year earlier.
In addition, moderation in state debt issuance following the heavy supply seen in January–March has supported demand for long-dated paper, Sachin Bajaj, Executive Vice President and Chief Investment Officer at Axis Max Life Insurance, said.
Still, some investors said the trend may be short-term.
"The recent issuances do not signal a structural shift" and were instead absorbed by investors with specific requirements, said Vidya Iyer, head of fixed income at ICICI Prudential Life Insurance.
($1 = 95.4200 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Nivedita Bhattacharjee)
(([email protected];))
MUMBAI, Aug 24 (Reuters) - India's Power Finance Corp PWFC.NS has accepted bids worth 25 billion rupees ($261.16 million) for bonds maturing in 15 years, three merchant bankers said on Monday.
The company will pay an annual coupon of 7.55% to the investors of this issue, and had invited bids from bankers and investors earlier in the day, they added.
Separately, PFC also had plans to raise up to 25 billion rupees through a three-year paper, but ultimately withdrew the issue due to higher coupon bids, the bankers added.
"The cutoff would have been above 7.5% if the company would have opted to raise shorter duration funds, which does not make sense when compared to the 15-year levels," a banker said.
The company did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on August 24:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 15 years | 7.55 | 25 | August 24 | AAA (Care, Icra, Crisil) |
Bajaj Finance | 10 years | To be decided | 20+40 | August 25 | AAA (Crisil) |
* Size includes base plus greenshoe for some issues
($1 = 95.7250 Indian rupees)
(Reporting by Dharamraj Dhutia)
MUMBAI, Aug 24 (Reuters) - India's Power Finance Corp PWFC.NS has accepted bids worth 25 billion rupees ($261.16 million) for bonds maturing in 15 years, three merchant bankers said on Monday.
The company will pay an annual coupon of 7.55% to the investors of this issue, and had invited bids from bankers and investors earlier in the day, they added.
Separately, PFC also had plans to raise up to 25 billion rupees through a three-year paper, but ultimately withdrew the issue due to higher coupon bids, the bankers added.
"The cutoff would have been above 7.5% if the company would have opted to raise shorter duration funds, which does not make sense when compared to the 15-year levels," a banker said.
The company did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on August 24:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 15 years | 7.55 | 25 | August 24 | AAA (Care, Icra, Crisil) |
Bajaj Finance | 10 years | To be decided | 20+40 | August 25 | AAA (Crisil) |
* Size includes base plus greenshoe for some issues
($1 = 95.7250 Indian rupees)
(Reporting by Dharamraj Dhutia)
MUMBAI, Aug 20 (Reuters) - India's Power Finance Corp PWFC.NS plans to raise up to 50 billion rupees ($522.81 million), through the sale of bonds maturing in three years and in 15 years, three merchant bankers said on Friday.
The company has invited coupon and commitment bids from bankers and investors for the issues on Monday, they said.
The company did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on August 20:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 3 years | To be decided | 5+20 | August 24 | AAA (Care, Icra, Crisil) |
PFC | 15 years | To be decided | 5+20 | August 24 | AAA (Care, Icra, Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 95.6375 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sonia Cheema)
MUMBAI, Aug 20 (Reuters) - India's Power Finance Corp PWFC.NS plans to raise up to 50 billion rupees ($522.81 million), through the sale of bonds maturing in three years and in 15 years, three merchant bankers said on Friday.
The company has invited coupon and commitment bids from bankers and investors for the issues on Monday, they said.
The company did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on August 20:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 3 years | To be decided | 5+20 | August 24 | AAA (Care, Icra, Crisil) |
PFC | 15 years | To be decided | 5+20 | August 24 | AAA (Care, Icra, Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 95.6375 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sonia Cheema)
Aug 7 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
POWER FINANCE Q1 CONSOL NET PROFIT 70.12 BILLION RUPEES
POWER FINANCE Q1 CONSOL INTEREST INCOME 279.47 BILLION RUPEES
POWER FINANCE - DECLARES DIVIDEND OF 3.9 RUPEES PER SHARE
Source text: [ID:]
Further company coverage: PWFC.NS
(([email protected];))
Aug 7 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
POWER FINANCE Q1 CONSOL NET PROFIT 70.12 BILLION RUPEES
POWER FINANCE Q1 CONSOL INTEREST INCOME 279.47 BILLION RUPEES
POWER FINANCE - DECLARES DIVIDEND OF 3.9 RUPEES PER SHARE
Source text: [ID:]
Further company coverage: PWFC.NS
(([email protected];))
Aug 3 (Reuters) - Power Grid Corporation of India Ltd PGRD.NS:
POWER FINANCE - KRISHNAGIRI REZ TRANSMISSION TRANSFERRED TO POWER GRID CORP FOR 198.2 MILLION RUPEES
POWER FINANCE - ANANTHPURAM TRANSMISSION TRANSFERRED TO APRAAVA ENERGY FOR 196.2 MILLION RUPEES
Further company coverage: PGRD.NS
(([email protected];))
Aug 3 (Reuters) - Power Grid Corporation of India Ltd PGRD.NS:
POWER FINANCE - KRISHNAGIRI REZ TRANSMISSION TRANSFERRED TO POWER GRID CORP FOR 198.2 MILLION RUPEES
POWER FINANCE - ANANTHPURAM TRANSMISSION TRANSFERRED TO APRAAVA ENERGY FOR 196.2 MILLION RUPEES
Further company coverage: PGRD.NS
(([email protected];))
By Dharamraj Dhutia
MUMBAI, July 15 (Reuters) - India's state-run Power Finance Corp PWFC.NS has finalised terms for another dollar debt issue, its second in less than a month, two bankers said on Wednesday.
PFC will raise $300 million through three-year dollar bonds at a spread of 110 basis points above the Secured Overnight Financing Rate (SOFR), and the coupon would be payable on a quarterly basis.
The issue will settle on Thursday and comes after PFC raised a lower-than-planned quantum of $300 million through a five-year dollar debt sale in June
PFC had raised these funds at a spread of 105 basis points over U.S. Treasuries, giving a yield of 5.327%.
Accepting larger quantum would have led to higher coupon rates, bankers had said
PFC was the first non-bank lender to tap the central bank's subsidised hedging facility for overseas borrowings, and remains the only one to tap this route so far
The bankers requested anonymity as they are not authorised to speak to media, while PFC did not reply to a Reuters email seeking comment
In June, the RBI said external commercial borrowings by banks and state-run companies would qualify for a subsidised hedging facility, helping cut the cost of managing currency risk
Private lender HDFC Bank and Axis Bank have raise an aggregate of $1.55 billion via bonds using the central bank's subsidised facility in June
(Reporting by Dharamraj Dhutia; Editing by Nivedita Bhattacharjee)
(([email protected];))
By Dharamraj Dhutia
MUMBAI, July 15 (Reuters) - India's state-run Power Finance Corp PWFC.NS has finalised terms for another dollar debt issue, its second in less than a month, two bankers said on Wednesday.
PFC will raise $300 million through three-year dollar bonds at a spread of 110 basis points above the Secured Overnight Financing Rate (SOFR), and the coupon would be payable on a quarterly basis.
The issue will settle on Thursday and comes after PFC raised a lower-than-planned quantum of $300 million through a five-year dollar debt sale in June
PFC had raised these funds at a spread of 105 basis points over U.S. Treasuries, giving a yield of 5.327%.
Accepting larger quantum would have led to higher coupon rates, bankers had said
PFC was the first non-bank lender to tap the central bank's subsidised hedging facility for overseas borrowings, and remains the only one to tap this route so far
The bankers requested anonymity as they are not authorised to speak to media, while PFC did not reply to a Reuters email seeking comment
In June, the RBI said external commercial borrowings by banks and state-run companies would qualify for a subsidised hedging facility, helping cut the cost of managing currency risk
Private lender HDFC Bank and Axis Bank have raise an aggregate of $1.55 billion via bonds using the central bank's subsidised facility in June
(Reporting by Dharamraj Dhutia; Editing by Nivedita Bhattacharjee)
(([email protected];))
July 13 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
SUBSIDIARY INCORPORATED SATARA POWER TRANSMISSION
Source text: ID:nBSE636rJF
Further company coverage: PWFC.NS
(([email protected];;))
July 13 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
SUBSIDIARY INCORPORATED SATARA POWER TRANSMISSION
Source text: ID:nBSE636rJF
Further company coverage: PWFC.NS
(([email protected];;))
June 30 (Reuters) - Power Grid Corporation of India Ltd PGRD.NS:
POWER FINANCE - TRANSFERS KAKINADA I TRANSMISSION TO POWER GRID CORPORATION OF INDIA
POWER FINANCE - CONSIDERATION FOR TRANSFER IS 205.1 MILLION RUPEES
Source text: ID:nBSE9WlsG0
Further company coverage: PGRD.NS
(([email protected];))
June 30 (Reuters) - Power Grid Corporation of India Ltd PGRD.NS:
POWER FINANCE - TRANSFERS KAKINADA I TRANSMISSION TO POWER GRID CORPORATION OF INDIA
POWER FINANCE - CONSIDERATION FOR TRANSFER IS 205.1 MILLION RUPEES
Source text: ID:nBSE9WlsG0
Further company coverage: PGRD.NS
(([email protected];))
The board of Power Finance Corporation (PFC) approved the scheme of merger by absorption of REC Limited into PFC at a meeting on June 28, 2026. The share exchange ratio has been fixed at 88 equity shares of PFC for every 100 shares of REC. The merged entity will have an aggregate loan book of over Rs 11 lakh crore, according to a company press release. The scheme is subject to shareholder, creditor, and regulatory approvals, including no-objection letters from stock exchanges. Deloitte Touche Tohmatsu India LLP is acting as transaction and tax advisor, and Cyril Amarchand Mangaldas as legal advisor. The valuation reports were provided jointly by RBSA Valuation Advisors and Ernst & Young Merchant Banking Services, with fairness opinions from SBI Capital Markets and Nuvama Wealth Management.
Powered by Tijori
The board of Power Finance Corporation (PFC) approved the scheme of merger by absorption of REC Limited into PFC at a meeting on June 28, 2026. The share exchange ratio has been fixed at 88 equity shares of PFC for every 100 shares of REC. The merged entity will have an aggregate loan book of over Rs 11 lakh crore, according to a company press release. The scheme is subject to shareholder, creditor, and regulatory approvals, including no-objection letters from stock exchanges. Deloitte Touche Tohmatsu India LLP is acting as transaction and tax advisor, and Cyril Amarchand Mangaldas as legal advisor. The valuation reports were provided jointly by RBSA Valuation Advisors and Ernst & Young Merchant Banking Services, with fairness opinions from SBI Capital Markets and Nuvama Wealth Management.
Powered by Tijori
By Dharamraj Dhutia and Khushi Malhotra
MUMBAI, June 25 (Reuters) - Three Indian development finance institutions are planning to raise at least $1.5 billion through foreign-currency bank loans under the central bank's discounted overseas borrowing facility, three people familiar with the plans said.
The institutions are favouring loans over bonds because none has issued dollar debt before and the process is simpler, the sources added.
The National Bank for Agriculture and Rural Development (NABARD), the Small Industries Development Bank of India (SIDBI) and the National Bank for Financing Infrastructure and Development (NaBFID) are each seeking to raise at least $500 million through foreign-currency loans, with NaBFID the furthest along after initiating talks with lenders, an executive confirmed.
"We expect to raise up to $2 billion via ECBs in this financial year. At present, we are planning to raise $500 million through the ECB route, and we have already started our activity and are exploring in the market," NaBFID managing director Rajkiran Rai told Reuters.
"With the RBI window opening, ECBs work out much cheaper. For the loan, the landed cost could be in the range of 6.5%-7.0%, NaBFID's Rai added.
The institution had also raised $125 million via a smaller dollar loan tranche in March, the sources added.
The sources declined to be identified as they are not authorised to speak to the media. NABARD and SIDBI did not respond to Reuters' requests for comment.
NABARD and SIDBI, which have not yet tapped foreign funding, have initiated preliminary talks and could approach the market over the next 30 to 40 days, according to all the sources.
"There is a lengthy procedure involved in a debut dollar bond sale, and it is time-consuming. If an institution is not going to be a regular issuer like EXIM Bank, it makes little sense to choose bonds over loans," one of the sources said.
Based on the credit ratings, dollar loans may be just marginally expensive than bonds for now.
The Reserve Bank of India earlier this month allowed banks and state-run companies raising funds overseas to access a subsidised hedging facility, lowering the cost of managing currency risk as part of a broader effort to attract dollar inflows and support the rupee.
Since then, HDFC Bank HDBK.NS, Axis Bank AXBK.NS and Power Finance Corp PWFC.NS have raised a combined $1.85 billion through dollar bonds, while Bank of Baroda BOB.NS and State Bank of India SBI.NS are preparing for similar issues.
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee)
(([email protected];))
By Dharamraj Dhutia and Khushi Malhotra
MUMBAI, June 25 (Reuters) - Three Indian development finance institutions are planning to raise at least $1.5 billion through foreign-currency bank loans under the central bank's discounted overseas borrowing facility, three people familiar with the plans said.
The institutions are favouring loans over bonds because none has issued dollar debt before and the process is simpler, the sources added.
The National Bank for Agriculture and Rural Development (NABARD), the Small Industries Development Bank of India (SIDBI) and the National Bank for Financing Infrastructure and Development (NaBFID) are each seeking to raise at least $500 million through foreign-currency loans, with NaBFID the furthest along after initiating talks with lenders, an executive confirmed.
"We expect to raise up to $2 billion via ECBs in this financial year. At present, we are planning to raise $500 million through the ECB route, and we have already started our activity and are exploring in the market," NaBFID managing director Rajkiran Rai told Reuters.
"With the RBI window opening, ECBs work out much cheaper. For the loan, the landed cost could be in the range of 6.5%-7.0%, NaBFID's Rai added.
The institution had also raised $125 million via a smaller dollar loan tranche in March, the sources added.
The sources declined to be identified as they are not authorised to speak to the media. NABARD and SIDBI did not respond to Reuters' requests for comment.
NABARD and SIDBI, which have not yet tapped foreign funding, have initiated preliminary talks and could approach the market over the next 30 to 40 days, according to all the sources.
"There is a lengthy procedure involved in a debut dollar bond sale, and it is time-consuming. If an institution is not going to be a regular issuer like EXIM Bank, it makes little sense to choose bonds over loans," one of the sources said.
Based on the credit ratings, dollar loans may be just marginally expensive than bonds for now.
The Reserve Bank of India earlier this month allowed banks and state-run companies raising funds overseas to access a subsidised hedging facility, lowering the cost of managing currency risk as part of a broader effort to attract dollar inflows and support the rupee.
Since then, HDFC Bank HDBK.NS, Axis Bank AXBK.NS and Power Finance Corp PWFC.NS have raised a combined $1.85 billion through dollar bonds, while Bank of Baroda BOB.NS and State Bank of India SBI.NS are preparing for similar issues.
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee)
(([email protected];))
June 23 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
POWER FINANCE - BOARD TO CONSIDER MERGER WITH REC ON JUNE 28, 2026
Source text: ID:nBSEbTwDQp
Further company coverage: PWFC.NS
(([email protected];;))
June 23 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
POWER FINANCE - BOARD TO CONSIDER MERGER WITH REC ON JUNE 28, 2026
Source text: ID:nBSEbTwDQp
Further company coverage: PWFC.NS
(([email protected];;))
By Dharamraj Dhutia
MUMBAI, June 22 (Reuters) - Indian lenders are on course to lock in pricing for $1.5 billion of bond issues this week, as a cheaper hedging facility spurs a rush in foreign-currency issuance, three bankers said on Monday.
State-run financier Power Finance Corp PWFC.NS aims to sell about $500 million of bonds, and has given an initial price guidance of a yield spread of 130 basis points over U.S. Treasuries, the bankers said, making it the first non-bank lender to tap dollar bonds after India earlier this month opened a forex swap facility as part of wider measures to help the rupee.
"We expect the pricing for the PFC bond issue to ease to around 100 bps over Treasury," one of the bankers said.
State-run Bank of Baroda BOB.NS will sell $500 million of five-year dollar bonds this week. Private sector peer Axis Bank AXBK.NS also plans to sell perpetual dollar bonds worth at least $500 million, according to the bankers.
"We are expecting bonds of banks to see very strong demand, as such issuances are rare in the dollar market," the second banker said.
The bankers did not want to be identified as they are not authorised to speak to the media.
Power Finance Corp, Bank of Baroda and Axis Bank did not respond to Reuters emails seeking comment.
India's top private lender, HDFC Bank HDBK.NS, sold $750 million of five-year dollar bonds last week at a spread of about 90 basis points over U.S. Treasuries.
Bank of Baroda and Axis Bank have finalised bankers for the issues and could raise the size of their offerings if the pricing is favourable, one of the bankers said.
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
(([email protected];))
By Dharamraj Dhutia
MUMBAI, June 22 (Reuters) - Indian lenders are on course to lock in pricing for $1.5 billion of bond issues this week, as a cheaper hedging facility spurs a rush in foreign-currency issuance, three bankers said on Monday.
State-run financier Power Finance Corp PWFC.NS aims to sell about $500 million of bonds, and has given an initial price guidance of a yield spread of 130 basis points over U.S. Treasuries, the bankers said, making it the first non-bank lender to tap dollar bonds after India earlier this month opened a forex swap facility as part of wider measures to help the rupee.
"We expect the pricing for the PFC bond issue to ease to around 100 bps over Treasury," one of the bankers said.
State-run Bank of Baroda BOB.NS will sell $500 million of five-year dollar bonds this week. Private sector peer Axis Bank AXBK.NS also plans to sell perpetual dollar bonds worth at least $500 million, according to the bankers.
"We are expecting bonds of banks to see very strong demand, as such issuances are rare in the dollar market," the second banker said.
The bankers did not want to be identified as they are not authorised to speak to the media.
Power Finance Corp, Bank of Baroda and Axis Bank did not respond to Reuters emails seeking comment.
India's top private lender, HDFC Bank HDBK.NS, sold $750 million of five-year dollar bonds last week at a spread of about 90 basis points over U.S. Treasuries.
Bank of Baroda and Axis Bank have finalised bankers for the issues and could raise the size of their offerings if the pricing is favourable, one of the bankers said.
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
(([email protected];))
June 10 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
POWER FINANCE - PRESIDENTIAL APPROVAL FOR PROPOSED MERGER OF REC LIMITED INTO PFC
Source text: ID:nBSE2cGnWz
Further company coverage: PWFC.NS
(([email protected];))
June 10 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
POWER FINANCE - PRESIDENTIAL APPROVAL FOR PROPOSED MERGER OF REC LIMITED INTO PFC
Source text: ID:nBSE2cGnWz
Further company coverage: PWFC.NS
(([email protected];))
May 13 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
POWER FINANCE CORP Q4 CONSOL NET PROFIT 69.99 BILLION RUPEES
POWER FINANCE CORP Q4 CONSOL TOTAL REVENUE FROM OPERATIONS 289.2 BILLION RUPEES
POWER FINANCE CORP - DIVIDEND OF 3.95 RUPEES PER SHARE
Source text: ID:nBSEbSwG8Y
Further company coverage: PWFC.NS
(([email protected];))
May 13 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
POWER FINANCE CORP Q4 CONSOL NET PROFIT 69.99 BILLION RUPEES
POWER FINANCE CORP Q4 CONSOL TOTAL REVENUE FROM OPERATIONS 289.2 BILLION RUPEES
POWER FINANCE CORP - DIVIDEND OF 3.95 RUPEES PER SHARE
Source text: ID:nBSEbSwG8Y
Further company coverage: PWFC.NS
(([email protected];))
- Reliance Industries will not proceed with its planned purchase of a 100% stake in Kandla GHA Transmission, following an annulment of the bidding process by PFC Consulting.
- The deal had been expected to value the acquisition at up to INR 20 crore.
- The planned transaction was first disclosed on April 25, 2025.
- PFC Consulting’s annulment letter was received on May 6, 2026.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Reliance Industries Ltd. published the original content used to generate this news brief via Singapore Exchange Limited (SGX) (Ref. ID: 1UCJ9M0YV1XB9IJ1) on May 07, 2026, and is solely responsible for the information contained therein.
- Reliance Industries will not proceed with its planned purchase of a 100% stake in Kandla GHA Transmission, following an annulment of the bidding process by PFC Consulting.
- The deal had been expected to value the acquisition at up to INR 20 crore.
- The planned transaction was first disclosed on April 25, 2025.
- PFC Consulting’s annulment letter was received on May 6, 2026.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Reliance Industries Ltd. published the original content used to generate this news brief via Singapore Exchange Limited (SGX) (Ref. ID: 1UCJ9M0YV1XB9IJ1) on May 07, 2026, and is solely responsible for the information contained therein.
March 30 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
POWER FINANCE - SOUTH KALAMB POWER TRANSMISSION TRANSFERRED TO ADANI ENERGY FOR 125.3 MILLION RUPEES
Source text: ID:nNSE8sJsny
Further company coverage: PWFC.NS
(([email protected];))
March 30 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
POWER FINANCE - SOUTH KALAMB POWER TRANSMISSION TRANSFERRED TO ADANI ENERGY FOR 125.3 MILLION RUPEES
Source text: ID:nNSE8sJsny
Further company coverage: PWFC.NS
(([email protected];))
March 17 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
TO RAISE RESOURCES FOR FY2026-27 THROUGH BONDS, TERM LOANS, COMMERCIAL PAPER
DECLARES FOURTH INTERIM DIVIDEND OF 3.25 RUPEES PER SHARE FOR FY2025-26
COMPANY MAY BORROW UPTO 1.6 TRLN RUPEES IN FY 2026-27
Source text: ID:nBSEc87xlw
Further company coverage: PWFC.NS
(([email protected];))
March 17 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
TO RAISE RESOURCES FOR FY2026-27 THROUGH BONDS, TERM LOANS, COMMERCIAL PAPER
DECLARES FOURTH INTERIM DIVIDEND OF 3.25 RUPEES PER SHARE FOR FY2025-26
COMPANY MAY BORROW UPTO 1.6 TRLN RUPEES IN FY 2026-27
Source text: ID:nBSEc87xlw
Further company coverage: PWFC.NS
(([email protected];))
March 11 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
POWER FINANCE - TO CONSIDER MARKET BORROWING PROGRAM FOR THE FINANCIAL YEAR 2026-2027
Further company coverage: PWFC.NS
(([email protected];))
March 11 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
POWER FINANCE - TO CONSIDER MARKET BORROWING PROGRAM FOR THE FINANCIAL YEAR 2026-2027
Further company coverage: PWFC.NS
(([email protected];))
MUMBAI, Feb 27 (Reuters) - India's Power Finance Corp PWFC.NS has accepted bids worth 60 billion rupees ($659.8 million) for bonds maturing in two years and in 10 years, three merchant bankers said on Friday.
The company will pay an annual coupon of 6.96% and 7.31%, respectively, and had invited coupon and commitment bids from bankers and investors for the issues on Friday, they said.
The company did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on February 27:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 2 years | 6.96 | 30 | February 27 | AAA (Care, Icra, Crisil) |
PFC | 10 years | 7.31 | 30 | February 27 | AAA (Care, Icra, Crisil) |
Bank of Baroda | 7 years | To be decided | 50+50 | March 4 | AAA (Icra, Care) |
NABARD | 3 years and 1 month | 7.10 | 50.55 | February 27 | AAA (Icra, Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 90.9410 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sonia Cheema)
MUMBAI, Feb 27 (Reuters) - India's Power Finance Corp PWFC.NS has accepted bids worth 60 billion rupees ($659.8 million) for bonds maturing in two years and in 10 years, three merchant bankers said on Friday.
The company will pay an annual coupon of 6.96% and 7.31%, respectively, and had invited coupon and commitment bids from bankers and investors for the issues on Friday, they said.
The company did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on February 27:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 2 years | 6.96 | 30 | February 27 | AAA (Care, Icra, Crisil) |
PFC | 10 years | 7.31 | 30 | February 27 | AAA (Care, Icra, Crisil) |
Bank of Baroda | 7 years | To be decided | 50+50 | March 4 | AAA (Icra, Care) |
NABARD | 3 years and 1 month | 7.10 | 50.55 | February 27 | AAA (Icra, Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 90.9410 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sonia Cheema)
MUMBAI, Feb 25 (Reuters) - India's Power Finance Corp PWFC.NS plans to raise 60 billion rupees ($659.83 million), including a greenshoe option of 50 billion rupees through sale of bonds maturing in two years and in 10 years, three merchant bankers said on Wednesday.
The company has invited coupon and commitment bids from bankers and investors for the issues on Friday, they said.
The company did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on February 25:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 2 years | To be decided | 5+25 | February 27 | AAA (Care, Icra, Crisil) |
PFC | 10 years | To be decided | 5+25 | February 27 | AAA (Care, Icra, Crisil) |
NHPC | 6-15 year STRPP | 7.29 | 20 | February 25 | AAA (Care, India Ratings) |
Embassy Office Parks REIT | 10 years | To be decided | 14 | February 26 | AAA (Crisil, Care) |
*Size includes base plus greenshoe for some issues
($1 = 90.9330 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
MUMBAI, Feb 25 (Reuters) - India's Power Finance Corp PWFC.NS plans to raise 60 billion rupees ($659.83 million), including a greenshoe option of 50 billion rupees through sale of bonds maturing in two years and in 10 years, three merchant bankers said on Wednesday.
The company has invited coupon and commitment bids from bankers and investors for the issues on Friday, they said.
The company did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on February 25:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 2 years | To be decided | 5+25 | February 27 | AAA (Care, Icra, Crisil) |
PFC | 10 years | To be decided | 5+25 | February 27 | AAA (Care, Icra, Crisil) |
NHPC | 6-15 year STRPP | 7.29 | 20 | February 25 | AAA (Care, India Ratings) |
Embassy Office Parks REIT | 10 years | To be decided | 14 | February 26 | AAA (Crisil, Care) |
*Size includes base plus greenshoe for some issues
($1 = 90.9330 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
Feb 17 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
FITCH: AFFIRMS POWER FINANCE CORPORATION AND REC LIMITED AT 'BBB-'/STABLE ON MERGER PLAN
Source text: [ID:]
Further company coverage: PWFC.NS
(([email protected];))
Feb 17 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
FITCH: AFFIRMS POWER FINANCE CORPORATION AND REC LIMITED AT 'BBB-'/STABLE ON MERGER PLAN
Source text: [ID:]
Further company coverage: PWFC.NS
(([email protected];))
MUMBAI, Feb 12 (Reuters) - India's Power Finance Corporation PWFC.NS (PFC) accepted bids worth 40 billion rupees ($441.76 million) for bonds maturing in two years and in five years, three merchant bankers said on Thursday.
The company will pay a coupon of 6.92% and 7.24% respectively and had invited commitment bids from bankers and investors for the issues earlier in the day, they said.
The company did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on February 12:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 2 years | 6.92 | 20 | February 12 | AAA (Crisil, Care) |
PFC | 5 years | 7.24 | 20 | February 12 | AAA (Crisil, Care) |
*Size includes base plus greenshoe for some issues
($1 = 90.5475 Indian rupees)
(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Nivedita Bhattacharjee)
MUMBAI, Feb 12 (Reuters) - India's Power Finance Corporation PWFC.NS (PFC) accepted bids worth 40 billion rupees ($441.76 million) for bonds maturing in two years and in five years, three merchant bankers said on Thursday.
The company will pay a coupon of 6.92% and 7.24% respectively and had invited commitment bids from bankers and investors for the issues earlier in the day, they said.
The company did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on February 12:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 2 years | 6.92 | 20 | February 12 | AAA (Crisil, Care) |
PFC | 5 years | 7.24 | 20 | February 12 | AAA (Crisil, Care) |
*Size includes base plus greenshoe for some issues
($1 = 90.5475 Indian rupees)
(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Nivedita Bhattacharjee)
By Dharamraj Dhutia
MUMBAI, Feb 11 (Reuters) - Indian state-run firms plan to raise 175 billion rupees ($1.93 billion) through bonds this week amid expectations that borrowing costs will rise further closer to the fiscal year end.
With sizable supply lined up, investors say the success of the bond sales will hinge on the firms' willingness to accept lower prices.
Corporate bonds have slipped in tandem with government notes, making fundraising expensive for firms and squeezing their margins.
Top-rated state-owned firms, including National Bank for Financing Infrastructure and Development (NaBFID), Housing and Urban Development Corp (HUDCO) HUDC.NS, Small Industries Development Bank of India (SIDBI) and Power Finance Corp, PWFC.NS will issue bonds this week, merchant bankers said.
"The pickup in issuance suggests companies have stopped waiting for borrowing costs to decline and have accepted that yields are unlikely to soften materially in the near term. They are choosing to access the market despite the high rates," said Venkatakrishnan Srinivasan, founder and managing partner at Rockfort Fincap.
The companies did not respond to emails seeking comment.
While NaBFID plans to issue 10-year bonds, HUDCO will issue perpetual bonds with a 10-year call option. SIDBI and PFC will issue notes with maturities of up to five years.
SIDBI and PFC withdrew their shorter-duration bond sales in December after investors sought higher yields. PFC’s issue will be closely watched following a proposed merger with REC.
"While interest exists for such issues, the key determinant will be the pricing," said Nikhil Aggarwal, founder & group CEO at Grip Invest, an online bond trading platform.
He noted that PFC's December bond sale was pulled over pricing. With interest rates on hold and the yield curve moving up, investors may demand higher yields.
Bond yields move inversely to prices.
LSEG benchmark 'AAA'-rated corporate bond yields are higher compared to the end of December, though they have retreated from recent highs hit immediately after India's federal budget earlier this month.
Investors expect the central bank to hold rates, and alongside higher government borrowing, rising inflation expectations and liquidity uncertainty, that is reinforcing a "higher-for-longer" rate view, Srinivasan said.
($1 = 90.5480 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sonia Cheema)
(([email protected];))
By Dharamraj Dhutia
MUMBAI, Feb 11 (Reuters) - Indian state-run firms plan to raise 175 billion rupees ($1.93 billion) through bonds this week amid expectations that borrowing costs will rise further closer to the fiscal year end.
With sizable supply lined up, investors say the success of the bond sales will hinge on the firms' willingness to accept lower prices.
Corporate bonds have slipped in tandem with government notes, making fundraising expensive for firms and squeezing their margins.
Top-rated state-owned firms, including National Bank for Financing Infrastructure and Development (NaBFID), Housing and Urban Development Corp (HUDCO) HUDC.NS, Small Industries Development Bank of India (SIDBI) and Power Finance Corp, PWFC.NS will issue bonds this week, merchant bankers said.
"The pickup in issuance suggests companies have stopped waiting for borrowing costs to decline and have accepted that yields are unlikely to soften materially in the near term. They are choosing to access the market despite the high rates," said Venkatakrishnan Srinivasan, founder and managing partner at Rockfort Fincap.
The companies did not respond to emails seeking comment.
While NaBFID plans to issue 10-year bonds, HUDCO will issue perpetual bonds with a 10-year call option. SIDBI and PFC will issue notes with maturities of up to five years.
SIDBI and PFC withdrew their shorter-duration bond sales in December after investors sought higher yields. PFC’s issue will be closely watched following a proposed merger with REC.
"While interest exists for such issues, the key determinant will be the pricing," said Nikhil Aggarwal, founder & group CEO at Grip Invest, an online bond trading platform.
He noted that PFC's December bond sale was pulled over pricing. With interest rates on hold and the yield curve moving up, investors may demand higher yields.
Bond yields move inversely to prices.
LSEG benchmark 'AAA'-rated corporate bond yields are higher compared to the end of December, though they have retreated from recent highs hit immediately after India's federal budget earlier this month.
Investors expect the central bank to hold rates, and alongside higher government borrowing, rising inflation expectations and liquidity uncertainty, that is reinforcing a "higher-for-longer" rate view, Srinivasan said.
($1 = 90.5480 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sonia Cheema)
(([email protected];))
MUMBAI, Feb 10 (Reuters) - India's Power Finance Corporation PWFC.NS (PFC) plans to raise 40 billion rupees ($441.84 million), including a greenshoe option of 30 billion rupees, selling bonds maturing in two years and in five years, three merchant bankers said on Tuesday.
The company has invited coupon and commitment bids from bankers and investors for the issues on Thursday, they said.
The company did not immediately respond to a Reuters email seeking comment.
Here is the list of deals reported so far on February 10:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 2 years | To be decided | 5+15 | February 12 | AAA (Crisil, Care) |
PFC | 5 years | To be decided | 5+15 | February 12 | AAA (Crisil, Care) |
Tata Capital Housing Finance | 2 years | To be decided | 4+3.5 | February 11 | AAA (Icra) |
Adani Airport Holdings | 3 years | 8.45 (quarterly) | 15 | February 11 | AA-(India Ratings) |
Bajaj Finance | 2 years | To be decided | 5+5 | February 11 | AAA(Crisil) |
NaBFID | 10 years | To be decided | 10+30 | February 11 | AAA (Crisil, Icra) |
HUDCO | Perpetual | To be decided | 5+10 | February 11 | AAA (Care, Acuite) |
* Size includes base plus greenshoe for some issues
($1 = 90.5310 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee)
MUMBAI, Feb 10 (Reuters) - India's Power Finance Corporation PWFC.NS (PFC) plans to raise 40 billion rupees ($441.84 million), including a greenshoe option of 30 billion rupees, selling bonds maturing in two years and in five years, three merchant bankers said on Tuesday.
The company has invited coupon and commitment bids from bankers and investors for the issues on Thursday, they said.
The company did not immediately respond to a Reuters email seeking comment.
Here is the list of deals reported so far on February 10:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
PFC | 2 years | To be decided | 5+15 | February 12 | AAA (Crisil, Care) |
PFC | 5 years | To be decided | 5+15 | February 12 | AAA (Crisil, Care) |
Tata Capital Housing Finance | 2 years | To be decided | 4+3.5 | February 11 | AAA (Icra) |
Adani Airport Holdings | 3 years | 8.45 (quarterly) | 15 | February 11 | AA-(India Ratings) |
Bajaj Finance | 2 years | To be decided | 5+5 | February 11 | AAA(Crisil) |
NaBFID | 10 years | To be decided | 10+30 | February 11 | AAA (Crisil, Icra) |
HUDCO | Perpetual | To be decided | 5+10 | February 11 | AAA (Care, Acuite) |
* Size includes base plus greenshoe for some issues
($1 = 90.5310 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee)
** UBS says merger proposal of Indian power financiers PFC PWFC.NS and REC RECM.NS positive, but awaits more clarity on process
** Brokerage estimates for every 9 shares of REC, 8 shares of PFC would be offered; government stake could fall to 42% vs 56% in PFC
** Believes post merger, entity could see better margins and pricing power given larger overlap in customer base - UBS
** Adds, given that PFC, REC depend on implicit government support for cost of funds, continued support will be critical
** PFC and REC trim initial losses; last down 0.4% and 2.8%, respectively
** YTD, PFC up ~18%, REC up 1.7%
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** UBS says merger proposal of Indian power financiers PFC PWFC.NS and REC RECM.NS positive, but awaits more clarity on process
** Brokerage estimates for every 9 shares of REC, 8 shares of PFC would be offered; government stake could fall to 42% vs 56% in PFC
** Believes post merger, entity could see better margins and pricing power given larger overlap in customer base - UBS
** Adds, given that PFC, REC depend on implicit government support for cost of funds, continued support will be critical
** PFC and REC trim initial losses; last down 0.4% and 2.8%, respectively
** YTD, PFC up ~18%, REC up 1.7%
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
Feb 6 (Reuters) - India's Power Finance Corporation PWFC.NS said on Friday its board had approved an in-principle merger with REC Ltd RECM.NS.
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Shreya Biswas)
((mailto: [email protected]; @MukherjeeHritam;))
Feb 6 (Reuters) - India's Power Finance Corporation PWFC.NS said on Friday its board had approved an in-principle merger with REC Ltd RECM.NS.
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Shreya Biswas)
((mailto: [email protected]; @MukherjeeHritam;))
Feb 5 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
POWER FINANCE DEC-QUARTER CONSOL NET PROFIT 62.92 BILLION RUPEES
POWER FINANCE DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 290.95 BILLION RUPEES
POWER FINANCE- DIVIDEND OF 4 RUPEES PER SHARE
Further company coverage: PWFC.NS
(([email protected];))
Feb 5 (Reuters) - Power Finance Corporation Ltd PWFC.NS:
POWER FINANCE DEC-QUARTER CONSOL NET PROFIT 62.92 BILLION RUPEES
POWER FINANCE DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 290.95 BILLION RUPEES
POWER FINANCE- DIVIDEND OF 4 RUPEES PER SHARE
Further company coverage: PWFC.NS
(([email protected];))
Feb 3 (Reuters) - REC Limited RECM.NS:
CLARIFIES ON REPORT "GOVERNMENT CONSIDERING MERGER OF STATE-RUN ENTITIES PFC AND REC"
COMPANY IS NOT ENGAGED IN ANY SUCH DISCUSSIONS OR NEGOTIATIONS
Source text: ID:nBSE1rKKRv
Further company coverage: RECM.NS
(([email protected];;))
Feb 3 (Reuters) - REC Limited RECM.NS:
CLARIFIES ON REPORT "GOVERNMENT CONSIDERING MERGER OF STATE-RUN ENTITIES PFC AND REC"
COMPANY IS NOT ENGAGED IN ANY SUCH DISCUSSIONS OR NEGOTIATIONS
Source text: ID:nBSE1rKKRv
Further company coverage: RECM.NS
(([email protected];;))
More Large Cap Ideas
See similar 'Large' cap companies with recent activity
Promoter Buying
Companies where the promoters are bullish
Capex
Companies investing on expansion
Superstar Investor
Companies where well known investors have invested
Popular questions
- Business
- Financials
- Share Price
- Shareholdings
What does Power Finance Corpn. do?
Power Finance Corporation (PFC) is a leading Non-Banking Financial Corporation in India, providing financial assistance to Power Utilities for the development of the power sector through bond issuances, term loans, and ECBs.
Who are the competitors of Power Finance Corpn.?
Power Finance Corpn. major competitors are Muthoot Finance, Indian Railway Fin., REC, JIO Financial Serv., Chola Invest & Fin., L&T Finance, SBI Cards & Payment. Market Cap of Power Finance Corpn. is ₹1,14,761 Crs. While the median market cap of its peers are ₹1,03,829 Crs.
Is Power Finance Corpn. financially stable compared to its competitors?
Power Finance Corpn. seems to be less financially stable compared to its competitors. Altman Z score of Power Finance Corpn. is 0.61 and is ranked 7 out of its 8 competitors.
Does Power Finance Corpn. pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Power Finance Corpn. latest dividend payout ratio is 23.64% and 3yr average dividend payout ratio is 22.95%
How strong is Power Finance Corpn. balance sheet?
Latest balance sheet of Power Finance Corpn. is strong. Strength was visible historically as well.
Is the profitablity of Power Finance Corpn. improving?
Yes, profit is increasing. The profit of Power Finance Corpn. is ₹33,642 Crs for TTM, ₹25,901 Crs for Mar 2026 and ₹22,991 Crs for Mar 2025.
Is Power Finance Corpn. stock expensive?
Power Finance Corpn. is not expensive. Latest PE of Power Finance Corpn. is 4.4 while 3 year average PE is 5.08. Also latest Price to Book of Power Finance Corpn. is 0.8 while 3yr average is 1.0.
Has the share price of Power Finance Corpn. grown faster than its competition?
Power Finance Corpn. has given better returns compared to its competitors. Power Finance Corpn. has grown at ~16.5% over the last 3yrs while peers have grown at a median rate of 8.49%
Is the promoter bullish about Power Finance Corpn.?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Power Finance Corpn. is 55.99% and last quarter promoter holding is 55.99%.
Are mutual funds buying/selling Power Finance Corpn.?
The mutual fund holding of Power Finance Corpn. is increasing. The current mutual fund holding in Power Finance Corpn. is 9.34% while previous quarter holding is 9.29%.