Power Finance Corporation Limited has informed the Exchange about Transfer of Raghanesda RE Transmission Limited and NER Expansion Transmission Limited (wholly owned subsidiaries of PFC Consulting Limited) (a wholly owned subsidiary of Power Finance Corporation Limited)
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Power Finance Corporation (PFC) has informed the exchange that two wholly owned subsidiaries of its arm PFC Consulting Limited have been transferred to successful bidders on July 23, 2025. Raghanesda RE Transmission Limited was sold to Dineshchandra R. Agrawal Infracon Private Limited, and NER Expansion Transmission Limited was sold to Resonia Limited. Both SPVs were set up for specific transmission projects — evacuation of 3 GW renewable energy from Raghanesda, Gujarat, and the North-Eastern Region Expansion Scheme-XXV Part-A. The transactions were carried out as slump sales, with consideration determined as per Ministry of Power guidelines, and neither buyer belongs to the promoter group. The revenue or net worth contribution of both SPVs to PFC was stated as negligible.
This is a routine transfer of project-specific SPVs through the competitive bidding process, with negligible contribution to PFC's turnover, so material financial impact on shareholders is expected to be minimal.