Transaction Details
Power Finance Corporation Limited (PFC) through its wholly-owned subsidiary PFC Consulting Limited has transferred Fatehgarh II Transmission Limited to Power Grid Corporation of India Limited. The transaction was completed on 28 August 2026.
Subsidiary Information
Fatehgarh II Transmission Limited was established for the development of "Installation of 2 Nos. of Synchronous Condensers (SynCon) units at 765/400/220 kV Fatehgarh-II PS". The subsidiary contributed negligible turnover/revenue/income and net worth to the listed entity during the last financial year.
Financial Consideration
The consideration received for the sale was Rs. 19,11,35,596/- (Rupees Nineteen Crore Eleven Lakh Thirty Five Thousand Five Hundred Ninety Six Only) as per the Share Purchase Agreement.
Buyer Information
The successful bidder is Power Grid Corporation of India Limited. The disclosure explicitly states that the successful bidder does not belong to the Promoter and Promoter group of PFC.
Transaction Classification
The transaction does not fall within the purview of related party transactions. The proposal for sale and transfer is not in the nature of a slump sale.
Regulatory Framework
The consideration for sale & transfer of SPVs was determined in accordance with the Guidelines issued by the Ministry of Power, Government of India.
Effective Date
The process for sale and transfer was completed on 28 August 2026.
#Tags: #PowerFinanceCorporation #PowerGrid #SubsidiaryTransfer #SEBIDisclosure #RegulatoryCompliance