NEW DELHI: State-owned Power Finance Corporation (PFCNSE 2.00 %) on Thursday completed the acquisition of majority stake in RECNSE 0.00 % by transferring Rs 14,500 crore to the government, an official said.
The transaction has helped the government meet its disinvestment target of Rs 80,000 crore for the current financial year.
“The entire consideration of Rs 14,500 crore for acquiring 52.63 per cent equity of the Government of India in REC is paid by PFC through RTGS (real-time gross settlement) mode this morning,” the official said.
