Power Finance Corporation Ltd. (PFC) is an Indian public sector enterprise engaged in infrastructure finance, primarily serving the Indian power sector. Established in 1986, it operates under the administrative control of the Ministry of Power, Government of India. On 12 October 2021, PFC was conferred “Maharatna” status.
Initially wholly owned by the Government of India, PFC launched one of the largest IPOs by any Indian CPSU in January 2007.[3] It is listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).[4] On 6 December 2018, the Government approved PFC’s acquisition of Rural Electrification Corporation Limited (REC).[5] The deal was finalized on 28 March 2019, with PFC acquiring the Government of India’s 52.63% stake in REC.