Transfer of Kakinada I Transmission subsidiary to Power Grid
PFC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
PFC has transferred Kakinada I Transmission Limited, a wholly owned step-down subsidiary through PFC Consulting, to Power Grid Corporation of India for about Rs 20.51 crores under a Share Purchase Agreement dated 29 June 2026. The SPV was set up for transmission infrastructure for proposed Green Hydrogen and Green Ammonia projects in the Kakinada area. Its contribution to PFC's turnover, revenue, and net worth is negligible. Power Grid does not belong to PFC's promoter group, so this is not a related party transaction and not a slump sale. The consideration follows Ministry of Power guidelines for such transfers.
Minimal financial impact as the SPV contributes negligibly to PFC's revenue and net worth. Routine subsidiary transfer under standard bidding process.