PFC to fund REC deal without flouting CAR norms: Rajeev Sharma
NEW DELHI: Power Finance Corp (PFCNSE -1.48 %) will fund the acquisition of REC Ltd majorly through its internal accruals and expects to receive sanctions from about four state-run banks for up to Rs 6,000 crore in a week.
The company is confident of financing the Rs 14,000-crore deal without breaching capital adequacy norms and signing the share purchase pact within next 20 days, its managing director, Rajeev Sharma, told ET.
