PFC Subsidiary Incorporates Rundh Gidawara Transmission SPV

Date: 29.10.2026

Disinvestment / Strategic Actions

• PFC Consulting Limited (PFCCL), a wholly owned subsidiary of Power Finance Corporation Limited, has incorporated Rundh Gidawara Transmission Limited as a wholly owned subsidiary
• The SPV company was incorporated for developing "765 kV GSS Rundh Gidawara (Alwar) along with associated Transmission System"
• PFCCL has been nominated as the 'Bid Process Coordinator' (BPC) for selection of developer through tariff based competitive bidding for the Independent Transmission Projects (ITPs) by Ministry of Power, Government of India
• As per tariff-based competitive bidding Guidelines issued by Ministry of Power, the BPC must prepare project profile and initiate land acquisition and forest clearance processes
• The Rajasthan State Government appointed M/s PFC Consulting Limited as Bid Process Coordinator (BPC) for development of this Intra-State Transmission Project vide notification No. F.12(12) Energy/2021/00865/7791575 dated May 26, 2026
• The appointment was based on decision taken by State Committee on Transmission (SCT) in its 10th meeting held on 29.08.2025
• The Energy Department, Government of Rajasthan conveyed its approval on decision of 10th SCT Meeting vide letter dated 15.10.2025
• The SPV will be transferred to the Successful Bidder selected through International Competitive Bidding Process under Tariff Based Competitive Bidding Guidelines
• The successful bidder selected through the bidding process would develop the project

Other Operational / Legal / Strategic Disclosures

• The SPV will take up various preparatory activities including survey and preparation of report, initialization of land acquisition process, and initiating forest clearance process if required
• The regulatory framework is based on Guidelines for Tariff Based Competitive Bidding (TBCB) for Transmission Service circulated by Ministry of Power under Section 63 of Electricity Act, 2003
• The Rajasthan Government notification was published in Rajasthan Extraordinary Gazette on 02.06.2026

KMP / Board / Auditor Changes

Not Specified

Dividend Declaration or Non-Declaration

Not Specified

Board Meeting Outcomes

Not Specified

Financial Results

Not Specified