Power Finance Corporation Limited has informed the Exchange about Transfer of NES Pune East New Transmission Limited (wholly owned subsidiary of PFC Consulting Limited) (a wholly owned subsidiary of Power Finance Corporation Limited).
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Power Finance Corporation (PFC) has transferred its indirectly-held wholly owned subsidiary, NES Pune East New Transmission Limited, to Power Grid Corporation of India Limited (PGCIL) on March 12, 2026. The subsidiary was set up to develop the Network Expansion Scheme in Maharashtra for removing transmission constraints in the Pune Region-I (765/400 kV Pune East). The total consideration received was Rs. 8.05 crore under a Share Purchase Agreement. PFC clarified the entity contributed negligibly to its turnover, revenue, income, and net worth, the transaction is not a related party deal, and it is not a slump sale. This transfer was carried out as per bidding guidelines issued by the Ministry of Power, Government of India.
This is a routine SPV transfer by PFC Consulting Limited (PFC's subsidiary) to the winning bidder for a transmission project, done under standard government guidelines. The negligible financial contribution means minimal direct impact on PFC's earnings or balance sheet, and no material effect on shareholders is expected.