Power Finance Corporation Limited has completed the sale of its wholly-owned subsidiary, NES Dharashiv Transmission Limited, to Montecarlo Limited for a consideration of ₹3,61,11,559. The transaction was finalised on 12th March 2026.
NES Dharashiv Transmission Limited was established for the development of the Network Expansion Scheme in Maharashtra for the evacuation of renewable energy power from Dharashiv in Beed District. The subsidiary’s contribution to the turnover, revenue, or income and net worth of Power Finance Corporation during the last financial year was negligible.
Montecarlo Limited, the successful bidder, does not belong to the promoter or promoter group of Power Finance Corporation. The transaction does not fall within the purview of related party transactions and is not considered a slump sale. The sale and transfer were conducted 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).