Power Finance Corporation Limited has successfully completed the transfer of its wholly owned subsidiary, NERGS III Siang Basin Transmission Limited, to Dineshchandra R. Agrawal Infracon Private Limited. The transaction was finalised on 26 May 2026, with a consideration of ₹19,70,61,135 as per the Share Purchase Agreement.
NERGS III Siang Basin Transmission Limited, previously under PFC Consulting Limited, was established for the development of the NERGS-II Siang Basin. The unit contributed negligibly to the turnover or revenue of the listed entity during the last financial year.
The sale process was completed without involving related party transactions, and the buyer does not belong to the promoter or promoter group of Power Finance Corporation. The transaction is not considered a slump sale, as confirmed by the company.
The consideration for the sale and transfer of the subsidiary was determined in accordance with the 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).