Power Finance Corporation Limited has informed the Exchange about Transfer of Angul Sundargarh 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 has transferred its step-down wholly owned subsidiary, Angul Sundargarh Transmission Limited, to H.G. Infra Engineering Limited, the successful bidder. The subsidiary was set up to develop the 'Eastern Region Generation Scheme-I (ERGS-I)' transmission project and was held through PFC Consulting Limited. The transfer was completed on 28 July 2025 for a consideration of approximately Rs. 8.16 crore as per the Share Purchase Agreement. The SPV's contribution to PFC's turnover and net worth was described as negligible. The transaction is not a related party deal, and H.G. Infra does not belong to PFC's promoter group.
This is a routine divestment of a small project-specific SPV with negligible contribution to PFC's financials, so it is unlikely to have any material impact on shareholders or the stock price.