Transfer of TUMKUR II RE Transmission Limited (wholly owned subsidiary of PFC Consulting Limited) (wholly owned subsidiary of Power Finance Corporation Limited)
PFC · price
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Power Finance Corporation (PFC) has completed the sale and transfer of its wholly-owned subsidiary, TUMKUR II RE Transmission Limited, to Power Grid Corporation of India Limited. The SPV was set up for the development of a transmission system strengthening project at Tumkur-II to integrate 1.5 GW of additional renewable energy potential. The transaction was completed on 29 May 2026 for a consideration of Rs. 15,46,38,881 (approximately Rs. 15.46 crore). The buyer, Power Grid Corporation, is not part of the promoter or promoter group of PFC, and the transaction is not classified as a related party transaction or a slump sale. The contribution to PFC's turnover and net worth was negligible. The sale was conducted under Ministry of Power guidelines.
The sale represents a routine disposal of a project-specific SPV and is unlikely to have any material impact on PFC's financials given the negligible revenue contribution. The stock movement, if any, will be minimal.