PFC · price
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Power Finance Corporation (PFC) informed that Kakinada I Transmission Limited, a wholly owned subsidiary of PFC Consulting Limited (which is itself a wholly owned subsidiary of PFC), has been transferred to Power Grid Corporation of India Limited (PGCIL) on June 29, 2026, as the successful bidder. The SPV was set up to develop the transmission system for proposed Green Hydrogen / Green Ammonia projects in the Kakinada area (Phase-I). The sale consideration was approximately Rs. 20.51 crores, determined in line with Ministry of Power guidelines. PGCIL does not belong to PFC's promoter group, the deal is not a related party transaction, and it is not in the nature of a slump sale. The SPV's contribution to PFC's turnover, revenue, and net worth during the last financial year was negligible.
This is a routine transfer of a small project-specific SPV with negligible financial contribution to PFC, so the direct impact on shareholders or the stock is minimal. It is a standard competitive-bidding outcome for Indian transmission projects and does not alter PFC's core lending/financial business.