State-owned Power Finance Corporation and REC have initiated the merger process, and in separate meetings, their boards accorded in-principle approval for the creation of a large power financing company in the country. Following an ‘in principle’ approval by the Cabinet Committee on Economic Affairs (CCEA) in 2018, PFC acquired 52.63 per cent of the government’s holding in REC, making it a subsidiary.
The board of the Indian Renewable Energy Development Agency (IREDA) has cleared the issuance of equity shares through a Qualified Institutions Placement (QIP) for an aggregate amount of up to ₹2,994 crore. The move is part of the company’s strategic plan to scale up investment in renewable energy projects across India.
The board of BEML Limited has approved an investment of around ₹1,500 crore to set up a greenfield rail manufacturing facility, named BRAHMA, at Umariya near Bhopal in Madhya Pradesh. The proposed facility aims to strengthen BEML’s manufacturing capabilities, particularly in the rail and mobility segment.
The financial bids for the strategic disinvestment of IDBI Bank have been received from the shortlisted bidders, the Department of Investment and Public Asset Management (DIPAM) said on Friday. Fairfax India Holdings, the promoter of CSB Bank, and Kotak Mahindra Bank are widely seen as the frontrunners in the race for the lender. However, in a filing to the stock exchanges, Kotak Mahindra Bank has clarified that it did not participate in the financial bidding for IDBI Bank and that it has adhered to regulatory requirements in its disclosures.
Published on February 9, 2026
