Power Finance Corporation Limited (PFC) has announced the transfer of its wholly-owned subsidiary, South Kalamb Power Transmission Limited, to Adani Energy Solutions Limited. The transaction, completed on 30th March 2026, was valued at ₹12,53,27,500 as per the Share Purchase Agreement.
South Kalamb Power Transmission Limited was established for the development of the ‘Network Expansion Scheme for drawal of power at South Kalamb S/s: Part A’. The unit contributed negligibly to PFC’s turnover, revenue, income, and net worth during the last financial year.
The successful bidder, Adani Energy Solutions Limited, does not belong to the promoter or promoter group of Power Finance Corporation. The transaction is not classified as a related party transaction and was conducted at arm’s length.
Furthermore, the sale and transfer of the subsidiary do not constitute a slump sale. The consideration for the sale and transfer of the Special Purpose Vehicles (SPVs) was determined in accordance with guidelines issued by the Ministry of Power, Government of India.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).