Date: 29.05.2026
Transaction Details
Power Finance Corporation Limited has completed the transfer of TUMKUR II RE Transmission Limited, a wholly-owned subsidiary of PFC Consulting Limited (which is itself a wholly-owned subsidiary of Power Finance Corporation Limited), to Power Grid Corporation of India Limited. The transfer was completed on 29 May 2026.
Subsidiary Background
TUMKUR II RE Transmission Limited was established for the development of "Transmission System Strengthening at Tumkur-II for Integration of Additional RE Potential (1.5 GWw)".
Financial Impact
The subsidiary contributed negligible turnover/revenue/income and net worth to the listed entity during the last financial year.
Transaction Terms
- Sale Completion Date: 29 May 2026
- Consideration: ₹15,46,38,881 (Fifteen Crore Forty-Six Lakh Thirty-Eight Thousand Eight Hundred Eighty-One Only) as per the Share Purchase Agreement
- Buyer: Power Grid Corporation of India Limited
- Relationship: The successful bidder does not belong to the Promoter and Promoter group
Regulatory Classification
- The transaction does not fall within the purview of related party transaction
- The transaction is not in the nature of a slump sale
- The consideration for sale and transfer of SPVs was determined in accordance with Guidelines issued by the Ministry of Power, Government of India