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PFC

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uuid000aq9j

Namestring
PFC
Legal namestring
PFC International
Company typeenum
Private
Founded yearint
2009
Descriptiontext

PFC International is a privately-held management and strategy consultancy founded in 2009 in Beirut, Lebanon. The firm delivers advisory, capacity building, and execution services across four practice areas: Consultancy Services (Strategy, Deals Advisory), Management and Execution Services (People and Change, Performance Improvement, Consumer and Marketing, ESG and Sustainability, Organizational Resilience and Governance), Organizational Learning and Development (Capacity Building, Leadership Program, Cultural Transformation), and Digital Consultancy (AI/ML Services, Digital Transformation Services).

The firm operates from 6 owned offices across Australia, Qatar, Saudi Arabia, Lebanon, Oman, and Spain, and reports active project execution in 20 countries including the United States, France, Nigeria, Iraq, Bahrain, and the UAE. It serves over 1,000 businesses across 40+ industry sectors with a client base spanning government ministries, BFSI institutions (QNB, Riyad Bank, Banque Saudi Fransi), large corporates (Mall of Qatar, Qatar Free Zone Authority), and multilateral development organizations (UNICEF, Mercy Corps, Save the Children, USAID, EU, UNDP, Danish Refugee Council).

Revenue is generated through bespoke, project-based engagements typically billed on fixed-fee or milestone arrangements, with pricing determined per engagement based on scope, duration, complexity, and team composition. The go-to-market is sales-led, relying on senior partner-driven direct engagement, referrals, and industry conferences. The leadership is anchored by CEO Jihad Geagea alongside regional managing partners in each operating geography, with an advisory board drawing from KPMG, Maersk, Qatar Petroleum, and academic institutions.

Note on conflicting source data: the input also contains merger and acquisition records dated 2026 referencing a merger with REC Limited and a combined loan book of ₹11.5 lakh crore, which describes Power Finance Corporation (India), an unrelated Indian public-sector non-banking financial company that shares the "PFC" ticker. This conflicting data has been excluded from the analysis as the primary firmographic, website, leadership, and product evidence identifies the subject company as PFC International, the Beirut-based consultancy.

Short descriptiontext

PFC International is a Beirut-founded management and strategy consultancy established in 2009, operating from 6 offices across Australia, the Middle East, and Europe. It delivers strategy, deals advisory, organizational development, ESG, and digital consultancy services to government, BFSI, corporate, and multilateral clients in 20+ countries.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
51–100
akta.pro rankint
HeadquartersBeirut, Lebanon
HQ citystring
Beirut
HQ countrystring
Lebanon
HQ regionstring
Middle East
Markets served

Serves global market

Offices6 records

Each record includes

City, Country, Type, Description, Source

Keyword5 values
management consulting services, strategy advisory, deals advisory, organizational transformation, digital transformation consulting
Industry3 codes
1Program & Project Management (PMO) Consulting
CodeBPAHACALPrimaryYes
2Program & Portfolio Management (PPM)
CodeEDABAHABPrimaryNo
3Governance, Public Financial Management & Service Delivery Reform
CodeBPADAEADPrimaryNo
NAICS code3 codes
  • Management of Companies and Enterprises55111
  • Portfolio Management and Investment Advice523940
  • Corporate, Subsidiary, and Regional Managing Offices551114
SIC code1 code
  • Finance Services6199
Product category
Management Consulting
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model1 record
1Business Consultancy Services
TypeProfessional Services
Description

PFC International generates revenue by providing bespoke business consultancy services to clients across diverse industries and geographies. Engagement types include strategic advisory, market entry consulting, feasibility studies, project management, financial consulting, and specialized sector-focused advisory services. Revenue is project-based, typically billed on fixed-fee or milestone-deliverable arrangements for defined engagements.

Marketing channels4 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels1 record

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components3 values
Personnel, Operations, Marketing or Sales
Pricing details1 tier
1Custom Project-Based Pricing
ModelOtherBilling cadencePay-as-you-go
Notes

Pricing is determined per engagement based on scope, duration, complexity, and team composition. No standard rate card or tier structure is publicly disclosed.

GTM typeB2B
B2B
Offering typeServices
Services
Core offering1 text field

PFC International is a global management and strategy consultancy that delivers strategic advisory, deals advisory (valuation, M&A, restructuring), people and change, performance improvement, ESG, capacity building, leadership development, and digital/AI transformation services. It serves government entities, banks and financial institutions, insurance companies, and corporate clients across more than 20 countries through offices in Australia, Qatar, Saudi Arabia, Lebanon, Oman, and Spain, with a team of 100+ consultants and trainers.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

PFC International is a global management and strategy consultancy established in 2009, offering a comprehensive suite of consultancy services organized into four main categories: Consultancy Services (Strategy, Deals Advisory), Management & Execution Services (People & Change, Performance Improvement, Consumer and Marketing, ESG and Sustainability, Organizational Resilience and Governance Framework), Organizational Learning & Development (Capacity Building, Leadership Program, Cultural Transformation), and Digital Consultancy (AI/ML Services, Digital Transformation Services). The company operates with over 100 consultants across offices in Australia, Qatar, KSA, Lebanon, Oman, and Spain, serving clients in 20 countries.

Product and service1 record
1Strategy Services
Scale indicator1 record

Each record includes

Type, Value, Description, Source

Partnership1 partner
Strategic tierMinorTypeOthers
Description

PFC International collaborates with various industry partners and professional networks to deliver consulting services. Specific named partners are not explicitly listed on the website.

Recent move9 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight5 records

Each record includes

Type, Description

Peers10 records
TypeBroad incumbent
Description

Global management consulting leader with deep MENA and government practices. Competes with PFC for strategy, transformation, and public-sector mandates but at vastly larger scale and with global brand recognition.

TypeBroad incumbent
Description

Big 4 advisory arm with extensive Middle East and Australian operations. Competes with PFC for strategy, digital transformation, and human capital engagements, particularly in BFSI and public sector.

TypeDirect peer
Description

Mid-tier international audit and advisory firm with growing Middle East and Africa presence. Comparable to PFC in scale tier, multi-jurisdictional delivery, and cross-border advisory focus.

TypeBroad incumbent
Description

Big 4 advisory firm with strong GCC presence; Advisory Board member Hani Alkhalifa is a KPMG Associate Director. Competes for consulting and deals advisory mandates across the same client set.

TypeDirect peer
Description

Strategy consulting arm of PwC with significant MENA footprint and strong government/BFSI practices. Closely mirrors PFC's strategy, deals advisory, and organizational change offerings.

TypeDirect peer
Description

European-headquartered global strategy consultancy with strong Middle East offices. Closely comparable to PFC in size tier, MENA focus, and cross-border European-GCC project mix.

TypeBroad incumbent
Description

Top-tier global strategy consultancy with active offices in the GCC and Australia. Competes for the same enterprise strategy, digital, and public-sector engagements that PFC targets.

TypeDirect peer
Description

Global management consulting firm with established GCC and emerging markets presence. Comparable in practice breadth (strategy, operations, procurement, sustainability) and in serving government and corporate clients.

TypeBroad incumbent
Description

Global strategy consulting firm with strong Middle East presence and deals advisory capabilities. Overlaps directly with PFC's strategy and M&A advisory practices.

TypeDirect peer
Description

Global management consultancy with deep financial services and Middle East practices. Comparable to PFC on BFSI consulting, organizational change, and cross-border delivery model.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat4 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights6 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers4 records

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment3 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile3 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles19 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

PFC

Management Consultingpfc-international.com

PFC International is a Beirut-founded management and strategy consultancy established in 2009, operating from 6 offices across Australia, the Middle East, and Europe. It delivers strategy, deals advisory, organizational development, ESG, and digital consultancy services to government, BFSI, corporate, and multilateral clients in 20+ countries.

What PFC does

PFC International is a privately-held management and strategy consultancy founded in 2009 in Beirut, Lebanon. The firm delivers advisory, capacity building, and execution services across four practice areas: Consultancy Services (Strategy, Deals Advisory), Management and Execution Services (People and Change, Performance Improvement, Consumer and Marketing, ESG and Sustainability, Organizational Resilience and Governance), Organizational Learning and Development (Capacity Building, Leadership Program, Cultural Transformation), and Digital Consultancy (AI/ML Services, Digital Transformation Services).

The firm operates from 6 owned offices across Australia, Qatar, Saudi Arabia, Lebanon, Oman, and Spain, and reports active project execution in 20 countries including the United States, France, Nigeria, Iraq, Bahrain, and the UAE. It serves over 1,000 businesses across 40+ industry sectors with a client base spanning government ministries, BFSI institutions (QNB, Riyad Bank, Banque Saudi Fransi), large corporates (Mall of Qatar, Qatar Free Zone Authority), and multilateral development organizations (UNICEF, Mercy Corps, Save the Children, USAID, EU, UNDP, Danish Refugee Council).

Revenue is generated through bespoke, project-based engagements typically billed on fixed-fee or milestone arrangements, with pricing determined per engagement based on scope, duration, complexity, and team composition. The go-to-market is sales-led, relying on senior partner-driven direct engagement, referrals, and industry conferences. The leadership is anchored by CEO Jihad Geagea alongside regional managing partners in each operating geography, with an advisory board drawing from KPMG, Maersk, Qatar Petroleum, and academic institutions.

Note on conflicting source data: the input also contains merger and acquisition records dated 2026 referencing a merger with REC Limited and a combined loan book of ₹11.5 lakh crore, which describes Power Finance Corporation (India), an unrelated Indian public-sector non-banking financial company that shares the "PFC" ticker. This conflicting data has been excluded from the analysis as the primary firmographic, website, leadership, and product evidence identifies the subject company as PFC International, the Beirut-based consultancy.

PFC firmographics

Firmographics
Name
PFC
Legal name
PFC International
Website
https://pfc-international.com
Company type
Private
Founded year
2009
Operating status
Operating
Headcount range
51–100 employees
Short description
PFC International is a Beirut-founded management and strategy consultancy established in 2009, operating from 6 offices across Australia, the Middle East, and Europe. It delivers strategy, deals advisory, organizational development, ESG, and digital consultancy services to government, BFSI, corporate, and multilateral clients in 20+ countries.
Ownership category
akta.pro rank

PFC industry classification

Industry
Product category
Management Consulting
NAICS
Management of Companies and Enterprises (55111), Portfolio Management and Investment Advice (523940), Corporate, Subsidiary, and Regional Managing Offices (551114)
SIC
Finance Services (6199)
akta.pro primary industry
Program & Project Management (PMO) Consulting (BPAHACAL)
akta.pro secondary industries
Program & Portfolio Management (PPM) (EDABAHAB), Governance, Public Financial Management & Service Delivery Reform (BPADAEAD)

Keywords

  • Management consulting services
  • Strategy advisory
  • Deals advisory
  • Organizational transformation
  • Digital transformation consulting

Where PFC is headquartered

Location

Headquarters

HQ city
Beirut
HQ country
Lebanon
HQ region
Middle East

Offices6 records

Markets served

PFC business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Personnel, Operations, Marketing or Sales

Revenue model

  1. Business Consultancy Services: PFC International generates revenue by providing bespoke business consultancy services to clients across diverse industries and geographies. Engagement types include strategic advisory, market entry consulting, feasibility studies, project management, financial consulting, and specialized sector-focused advisory services. Revenue is project-based, typically billed on fixed-fee or milestone-deliverable arrangements for defined engagements.

Pricing tiers

ModelBillingPrice
OtherPay-as-you-goCustom Project-Based Pricing

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

PFC product offering

Product offering

Core offering

PFC International is a global management and strategy consultancy that delivers strategic advisory, deals advisory (valuation, M&A, restructuring), people and change, performance improvement, ESG, capacity building, leadership development, and digital/AI transformation services. It serves government entities, banks and financial institutions, insurance companies, and corporate clients across more than 20 countries through offices in Australia, Qatar, Saudi Arabia, Lebanon, Oman, and Spain, with a team of 100+ consultants and trainers.

Product overview

PFC International is a global management and strategy consultancy established in 2009, offering a comprehensive suite of consultancy services organized into four main categories: Consultancy Services (Strategy, Deals Advisory), Management & Execution Services (People & Change, Performance Improvement, Consumer and Marketing, ESG and Sustainability, Organizational Resilience and Governance Framework), Organizational Learning & Development (Capacity Building, Leadership Program, Cultural Transformation), and Digital Consultancy (AI/ML Services, Digital Transformation Services). The company operates with over 100 consultants across offices in Australia, Qatar, KSA, Lebanon, Oman, and Spain, serving clients in 20 countries.

Differentiator

Problem solved

Functional benefit

Products and services

  • Strategy Services

Companies that use PFC

Customer profile

Named customers4 records

Segments3 records

Ideal customer profiles3 records

PFC technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

PFC partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

  • Industry PartnersminorOthersPFC International collaborates with various industry partners and professional networks to deliver consulting services. Specific named partners are not explicitly listed on the website.

Scale indicators1 record

Recent moves9 records

Expansion highlights5 records

PFC competitors and assessment

Company assessment

Broad incumbents

  • McKinsey & Company: Global management consulting leader with deep MENA and government practices. Competes with PFC for strategy, transformation, and public-sector mandates but at vastly larger scale and with global brand recognition.
  • Deloitte Consulting: Big 4 advisory arm with extensive Middle East and Australian operations. Competes with PFC for strategy, digital transformation, and human capital engagements, particularly in BFSI and public sector.
  • KPMG Advisory: Big 4 advisory firm with strong GCC presence; Advisory Board member Hani Alkhalifa is a KPMG Associate Director. Competes for consulting and deals advisory mandates across the same client set.
  • Boston Consulting Group (BCG): Top-tier global strategy consultancy with active offices in the GCC and Australia. Competes for the same enterprise strategy, digital, and public-sector engagements that PFC targets.
  • Bain & Company: Global strategy consulting firm with strong Middle East presence and deals advisory capabilities. Overlaps directly with PFC's strategy and M&A advisory practices.

Direct peers

  • Mazars: Mid-tier international audit and advisory firm with growing Middle East and Africa presence. Comparable to PFC in scale tier, multi-jurisdictional delivery, and cross-border advisory focus.
  • PwC Strategy&: Strategy consulting arm of PwC with significant MENA footprint and strong government/BFSI practices. Closely mirrors PFC's strategy, deals advisory, and organizational change offerings.
  • Roland Berger: European-headquartered global strategy consultancy with strong Middle East offices. Closely comparable to PFC in size tier, MENA focus, and cross-border European-GCC project mix.
  • Kearney: Global management consulting firm with established GCC and emerging markets presence. Comparable in practice breadth (strategy, operations, procurement, sustainability) and in serving government and corporate clients.
  • Oliver Wyman: Global management consultancy with deep financial services and Middle East practices. Comparable to PFC on BFSI consulting, organizational change, and cross-border delivery model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

PFC social profiles

Digital presence

PFC financial estimates

Financial estimate

Revenue estimate

Valuation estimate

PFC leadership team

Management profile

Number of profiles

Profiles19 records

PFC funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

PFC M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PFC

What does PFC do?

PFC International is a global management and strategy consultancy that delivers strategic advisory, deals advisory (valuation, M&A, restructuring), people and change, performance improvement, ESG, capacity building, leadership development, and digital/AI transformation services. It serves government entities, banks and financial institutions, insurance companies, and corporate clients across more than 20 countries through offices in Australia, Qatar, Saudi Arabia, Lebanon, Oman, and Spain, with a team of 100+ consultants and trainers.

Is PFC a public or private company?

PFC is a private company. It is classified as founder individual operated bootstrapped and is currently operating.

When was PFC founded?

PFC was founded in 2009. It employs 51 to 100 people.

Where is PFC based?

PFC is headquartered in Beirut, Lebanon, in the Middle East region.

How does PFC make money?

One revenue line is on record: business Consultancy Services.

Who are PFC's main competitors?

Broad incumbents on record are McKinsey & Company, Deloitte Consulting, KPMG Advisory, Boston Consulting Group (BCG) and Bain & Company. Direct peers are Mazars, PwC Strategy&, Roland Berger, Kearney and Oliver Wyman.

Does PFC have an API?

No public API is recorded for PFC.

What industry is PFC in?

PFC's product category is Management Consulting. Its primary akta.pro industry code is BPAHACAL, Program & Project Management (PMO) Consulting, with a secondary code of EDABAHAB, Program & Portfolio Management (PPM). Its NAICS code is 55111 and its SIC code is 6199.

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Live signals
BusinessLinePFC’s ₹26,000-crore, 30-year loan to NPCIL sets stage for long-term nuclear financingIndia's PFC provided a ₹26,000 crore, 30-year loan to NPCIL, marking the first such long-term nuclear project finance in the country, to support the sector-specific long-term financing mechanism for nuclear power plants. The workshop organized by the Power Ministry highlighted the importance of long-tenure loans for tariff competitiveness and noted the involvement of multilateral financiers. The sector is moving towards mature financing practices with government and lender coordination.Financial Express5.4% yield and a fortress balance sheet: Is this bluechip PSU the ultimate dividend machineREC Limited, a Maharatna Central Public Sector Enterprise under India's Ministry of Power and one of the country's largest infrastructure finance NBFCs, reported its highest-ever standalone net profit of ₹16,282 crore in FY26, marking a 3.6% year-on-year increase, with disbursements reaching a record ₹2.1 lakh crore. The company declared a dividend of ₹18.6 per equity share (186% of face value), translating to a 5.4% yield at the current share price of ₹346, supported by a 99.3% cash recovery rate and a Capital to Risk-weighted Assets Ratio of 23.1%, well above the 15% regulatory requirement. The analysis notes that REC's proposed merger with Power Finance Corporation (PFC) is scheduled to take effect from April 2027, which could impact the company's future dividend sustainability.MintAdani Power, NTPC, PFC, Tata Power hit 52-week highs: Why are power stocks charged up? | Stock Market NewsSeveral Indian power stocks, including Adani Power, NTPC, PFC, Tata Power, BHEL, Hitachi Energy India, Siemens, Thermax, and Torrent Power, hit their 52-week highs on the BSE on 20 April 2026 amid broader market volatility caused by the US-Iran conflict. Since the US-Iran war began on 28 February, power stocks have surged 15-40%, driven by strong seasonal electricity demand, a weak monsoon outlook due to the El Niño effect, and investors seeking defensive sectors with clear earnings visibility. Market experts noted that power demand is expected to remain elevated due to summer heat and that the sector's multi-year capex cycle focused on generation, transmission, and renewable energy continues to support investor interest.Financial ExpressREC, PFC, IRFC: Jefferies on RBI rule shift – 4 PSU NBFCs set for regulatory upgradeThe Reserve Bank of India has proposed replacing its multi-parameter scoring model for classifying Upper Layer NBFCs with a simple asset-size threshold of Rs 1,00,000 crore, a change Jefferies says brings greater predictability to regulatory classification. The brokerage expects REC, PFC, IRFC, and HUDCO—all large public sector NBFCs—to be included in the Upper Layer under the revised framework, while PNB Housing Finance may exit due to falling below the new threshold. The proposal also introduces a five-year formal review cycle and allows Upper Layer NBFCs to use state government guarantees as unrestricted credit risk transfer instruments.Financial ExpressREC, PFC, IRFC: Jefferies on RBI rule shift – 4 PSU NBFCs set for regulatory upgradeThe Reserve Bank of India proposed replacing its multi-parameter scoring model for classifying Upper Layer NBFCs with a simpler asset-size threshold of Rs 1,00,000 crore, creating a more predictable regulatory framework. Jefferies identified four public sector NBFCs—REC, PFC, IRFC, and HUDCO—that are expected to enter the Upper Layer under the revised classification, while PNB Housing Finance may move out due to insufficient asset size. The change removes classification volatility tied to earlier scoring parameters, even as Upper Layer entities continue to face tighter capital norms, governance requirements, and supervisory oversight.BusinessLineRBI proposes ₹1 Lakh crore asset threshold for NBFC Upper Layer classificationThe RBI has proposed replacing its parametric scoring methodology for classifying NBFCs into the Upper Layer with a simple asset-size threshold of ₹1 lakh crore, making the identification criteria transparent and non-discretionary. Under the proposed rules, government-owned NBFCs including PFC, REC, and IRFC would be brought under the Upper Layer framework, while two to three private sector NBFCs could exit the list. The draft guidelines also clarify that the asset-size threshold will be reviewed every five years, with the current Upper Layer comprising 15 entities including Bajaj Finance, LIC Housing Finance, and Shriram Finance.ET NOWPFC Dividend: Rs 3.25 per share cash reward by Maharatna PSU - Check record date and other detailsPFC (Power Finance Corporation), a Maharatna PSU, declared a fourth interim dividend of Rs 3.25 per share for FY 2025-26. The company fixed March 23, 2026 as the record date for determining shareholder eligibility, with the dividend payment scheduled on or before April 16, 2026.The Times of IndiaPower sector review: CAG to convene national meet on generation, transmission and distribution trends on Feb 23The CAG of India will convene a National Conference on Power Sector on February 23 in New Delhi to review trends in generation, transmission and distribution and gather stakeholder inputs for future audit planning. The conference will bring together senior officials from the Centre and states along with CMDs of key public sector power companies including NTPC, NHPC, SECI, PFC, Grid-India and PGCIL, with deliberations expected to focus on digitalisation, renewable energy integration and DISCOM financial sustainability. As context, the article notes India doubled its generation capacity over the past decade, achieved universal electrification, transitioned into a net electricity exporter, and met its NDC target of 50% non-fossil fuel capacity five years ahead of schedule.Business TodayIRCTC, PFC, SJVN, Alkem, Senco Gold, Info Edge shares to turn ex dividend todaySeveral Indian companies, including IRCTC, PFC, SJVN, and Alkem Laboratories, will have shares turn ex-dividend or for stock splits on February 20. Key dividend payments include Rs 43 per share for Alkem and Rs 3.50 per share for IRCTC, with other companies also involved.BusinessLinePower Ministry forms panel to monitor PFC-REC merger progressThe Power Ministry has formed a three-member high-level committee to monitor the progress of the proposed merger between PFC and REC, two public sector NBFCs. The committee, comprising the CMDs of both entities and the Joint Secretary (Distribution) from the Power Ministry, will oversee a working group studying merger modalities including personnel integration, corporate restructuring, technology integration, and regulatory approvals. The merger, which received in-principle board approval earlier this month and was proposed by the Finance Minister in the FY27 Budget speech, would create a power financing behemoth with a combined loan book of approximately ₹11.5 lakh crore.