PFC board greenlights ₹1.4 crore borrowing plan, fourth interim dividend of ₹3.5 per share

Power Finance Corporation (PFC) on Wednesday, March 12, announced that its board of directors greenlit a ₹1.4 lakh crore borrowing plan for the 2025-26 financial year (FY26). The board also approved the fourth interim dividend for the 2024-25 financial year (FY25).

According to a regulatory filing, the ₹1.4 lakh crore borrowing plan includes raising money through bonds, term loans, commercial paper (CP), and more from domestic and international markets.

Of the ₹1.4 lakh crore, the company plans to raise ₹1 lakh crore via domestic currency borrowings from capital gain bonds and public issue of bonds through various instruments, ₹20,000 crore ($2.3 billion) from foreign currency borrowing by issuing instruments like syndicate loans, subordinate loans, etc. It further plans to raise ₹15,000 crore through short-term borrowings.

Fourth interim dividend

PFC’s board also approved its fourth interim dividend of ₹3.5 per equity share on the face value of ₹10 each for FY25.

The company fixed Wednesday, March 19 as its record date for assessing the eligibility of its shareholders for the dividend. The payment for which will be made on or before April 11.

Board approves name change

The company’s board approved the proposal to change its name from “Power Finance Corporation Limited” to “PFC Limited” or any other name as may be approved by the Registrar of Companies (RoC), it stated.

It also approved the consequential amendment to the Memorandum and Articles of Association of PFC, subject to requisite approvals from shareholders, the Reserve Bank of India (RBI), Stock Exchanges and other authorities.

Shares of PFC closed in red at ₹396, down 0.85% on the National Stock Exchange (NSE) on Wednesday, March 12.