Power Finance Corporation Transfers Wholly Owned Subsidiary NERGS III Siang Basin Transmission
Power Finance Corporation Limited (PFC), a Government of India Undertaking, has transferred NERGS III Siang Basin Transmission Limited. This entity is a wholly owned subsidiary of PFC Consulting Limited, which itself is a wholly owned subsidiary of Power Finance Corporation Limited.The transfer was completed on May 26, 2026, with the asset going to Dineshchandra R. Agrawal Infracon Private Limited, identified as the successful bidder.
The transaction details reveal that the sale of the subsidiary is valued at Rs.19,70,61,135/- (Rupees Nineteen Crores Seventy Lakhs Sixty One Thousand One Hundred and Thirty Five Only) as per the Share Purchase Agreement.
The successful bidder, Dineshchandra R. Agarwal Infracon Private Limited, does not belong to the Promoter or the Promoter group.
Key Transaction Details
A comprehensive overview of the sale and transfer of the subsidiary is provided below:| Particulars | Detail |
|---|---|
| Subsidiary Name | NERGS III Siang Basin Transmission Limited |
| Successful Bidder | Dineshchandra R. Agarwal Infracon Private Limited |
| Sale Completion Date | May 26, 2026 |
| Consideration Received | Rs.19,70,61,135/- |
| Turnover/Revenue (Last FY) | Negligible |
| Nature of Transaction | Does not fall within the purview of a related party transaction, and is not considered a slump sale. |
PFC stated that the consideration for the sale and transfer of the Special Purpose Vehicles (SPVs) was determined in accordance with the Guidelines issued by the Ministry of Power, Government of India. Furthermore, the process for the sale and transfer was finalized on May 26, 2026.
PFC Stock Price Movement
Power Finance Corporation Limited shares shed 0.02% today, closing at ₹433.60. The stock traded today on a volume of 2.56 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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