Power Finance Corporation Limited has informed the Exchange about Transfer of MEL Power Transmission Limited (wholly owned subsidiary of PFC Consulting Limited) (wholly owned subsidiary of Power Finance Corporation Limited).
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Power Finance Corporation Limited (PFC) has informed the exchange that MEL Power Transmission Limited, a wholly owned subsidiary of PFC Consulting Limited (itself a wholly owned subsidiary of PFC), has been transferred to Power Grid Corporation of India Limited, the successful bidder, on 4th June 2025. MEL Power Transmission was set up specifically for building the transmission system to evacuate power from Mahan Energen Limited's generating station in Madhya Pradesh. The sale consideration was Rs. 8,53,11,419 (about Rs. 8.53 crore) as per the Share Purchase Agreement. PFC has stated that MEL Power Transmission's contribution to its turnover, revenue, income, and net worth in the last financial year was negligible.
This is a minor transaction with negligible impact on PFC's financials or operations, as the asset being divested contributed almost nothing to the company's revenue or net worth. Shareholders are unlikely to see any meaningful effect on the stock price from this sale.