Power Finance Corporation Limited has informed the Exchange about Incorporation of wholly owned Subsidiary of PFC Consulting Limited (a wholly owned subsidiary of Power Finance Corporation Limited) SOUTH KALAMB POWER TRANSMISSION LIMITED.
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Awaiting price reaction for this filing.
PFC's wholly owned subsidiary PFC Consulting Limited (PFCCL) has incorporated a new Special Purpose Vehicle (SPV) called South Kalamb Power Transmission Limited. The SPV is being set up to carry out preparatory work for a transmission project — the 'Network Expansion Scheme for drawal of power at South Kalamb S/s: Part A.' The Ministry of Power had appointed PFCCL as the Bid Process Coordinator to run a tariff-based competitive bidding process for selecting a Transmission Service Provider. The SPV will be transferred to the successful bidder once the bidding process is complete. This is a standard procedural step and not a direct order win for PFC.
This is a routine, procedural incorporation and is unlikely to have any material impact on PFC's stock price. The revenue, if any, will flow only to the eventual winning bidder, not to PFC itself. Investors should view this as administrative housekeeping rather than a new business development.