Power Finance Corporation transfers Kakinada Transmission unit to Power Grid Corporation of India
Power Finance Corporation Limited has completed the transfer of Kakinada I Transmission Limited (KITL), a wholly owned subsidiary of PFC Consulting Limited, to Power Grid Corporation of India Limited. The sale, which was finalized on June 29, 2026, involved the transfer of the entity established for the development of transmission systems critical for Green Hydrogen and Green Ammonia projects in Kakinada.Kakinada I Transmission Limited was created specifically to support Phase-I of the proposed Green Hydrogen/Green Ammonia projects in the Kakinada area. The transaction concluded with Power Grid Corporation of India Limited becoming the new owner of the entity.
Details regarding the sale and transfer of Kakinada I Transmission Limited are summarized below:
| Particulars | Details |
|---|---|
| Subsidiary Name | Kakinada I Transmission Limited |
| Transaction Completion Date | 29.06.2026 |
| Consideration Received | Rs. 20,50,66,293/- (Rupees Twenty Crores Fifty Lakhs Sixty Six Thousand Two Hundred and Ninety Three Only) |
| Buyer Name | Power Grid Corporation of India Limited |
| Relationship Status | The transaction does not fall within the purview of a related party transaction. |
| Sale Nature | The proposal is not in the nature of a slump sale. |
| Revenue Contribution by Unit | Negligible |
The successful bidder, Power Grid Corporation of India Limited, was confirmed to be neither part of the promoter group nor any affiliated companies. The transaction adheres to guidelines issued by the Ministry of Power, Government of India, regarding the consideration for the sale and transfer of SPVs.
PFC Stock Price Movement
Power Finance Corporation Limited shares today edged higher to close at ₹424.3, after gaining 0.11%. The stock traded within an intraday range of ₹422.8 to ₹428.55 and saw a total volume of 7.1 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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