Transaction Details
Power Finance Corporation Ltd (PFC) has completed the transfer of Kakinada Transmission Limited, a wholly-owned subsidiary of PFC Consulting Limited (which is itself a wholly-owned subsidiary of PFC), to Power Grid Corporation of India Limited. The transfer was completed on June 29, 2026. Power Grid Corporation of India Limited was identified as the successful bidder for this transaction.
Entity Background
Kakinada Transmission Limited was established for the development of "Transmission system for proposed Green Hydrogen / Green Ammonia projects in Kakinada area (Phase-I)".
Financial Considerations
The subsidiary contributed negligible turnover/revenue/income and net worth to the listed entity during the last financial year. The consideration received for the sale/disposal was ₹20,50,66,293 (Rupees Twenty Crores Fifty Lakhs Sixty Six Thousand Two Hundred and Ninety Three Only) as per the Share Purchase Agreement.
Counterparty 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.
Regulatory 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.
Governance Framework
The consideration for sale and transfer of SPVs was determined in accordance with the Guidelines issued, from time to time, by the Ministry of Power, Government of India.