PFC Completes Transfer of Fatehgarh II Transmission to Power Grid for ₹19.11 Crore
PFC has transferred its wholly-owned subsidiary, Fatehgarh II Transmission Limited, to Power Grid Corporation of India Limited for ₹19.11 crore. The sale was completed on August 28, 2026. The subsidiary was established for the installation of synchronous condenser units.
The contribution of the transferred subsidiary to PFC's overall financial performance was negligible, and the transaction appears to be a standard divestment of a non-core asset. Therefore, the impact on PFC's overall business is expected to be minimal.
The announcement details a routine business transaction involving the transfer of a subsidiary. While it involves a financial consideration, it does not present any significant positive or negative implications for PFC's core operations or financial performance.
Power Finance Corporation Limited (PFC) has announced the completion of the transfer of its wholly-owned subsidiary, Fatehgarh II Transmission Limited, to Power Grid Corporation of India Limited. The transaction, which was finalized on August 28, 2026, involved the sale of the Special Purpose Vehicle (SPV) established for the development of synchronous condenser units at Fatehgarh-II PS.
The consideration received from this sale amounts to ₹19,11,35,596 (Nineteen Crore Eleven Lakh Thirty-Five Thousand Five Hundred Ninety-Six Rupees). Fatehgarh II Transmission Limited's contribution to PFC's turnover, revenue, income, and net worth in the last financial year was negligible. The buyer, Power Grid Corporation of India Limited, does not belong to PFC's promoter group. The transaction is not considered a related party transaction and is not in the nature of a slump sale. The consideration was determined in accordance with guidelines issued by the Ministry of Power, Government of India.
A plain-language summary of a public exchange filing by Power Finance Corporation Limited. Read the original for the full detail.