Power Finance Corporation Limited has informed the Exchange about Transfer of Anantapur II REZ Transmission Limited (wholly owned subsidiary of PFC Consulting Limited) (wholly owned subsidiary of Power Finance Corporation Limited).
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Power Finance Corporation has transferred Anantapur II REZ Transmission Limited, a wholly owned subsidiary of its consulting arm PFC Consulting Limited, to Resonia Limited (formerly Sterlite Grid 32 Limited) for Rs. 19.23 crore on 31st March 2025. Anantapur II REZ was set up to build the transmission system for integrating the Anantapur-II Renewable Energy Zone (Phase-I, 4.5 GW). The buyer is not related to PFC's promoter group, and the transaction is not a related party deal or a slump sale. The subsidiary's revenue and net worth contribution to PFC is described as negligible. This transfer follows the standard competitive bidding process mandated by the Ministry of Power for transmission projects.
This is a routine project-level transfer to the winning bidder under government bidding guidelines, not a strategic divestment. Shareholders should not expect a material impact on PFC's earnings or business, as the SPV's financial contribution is negligible. The stock price is unlikely to be meaningfully affected.