Power Finance Corporation subsidiary GIPCL dissolved following project closure | Business Upturn

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Power Finance Corporation (PFC) has announced the dissolution of its wholly owned subsidiary, Ghogarpalli Integrated Power Company Limited (GIPCL), effective 16 March 2026. The subsidiary was struck off by the registrar of companies under section 248 of the Companies Act 2013.

GIPCL, incorporated on 22 May 2008, was established as a Special Purpose Vehicle for developing a 4000 MW Ultra Mega Power Project in Odisha. However, the project was subsequently closed, leading to the decision to dissolve the company. The Ministry of Power, Government of India, approved the closure and striking off of GIPCL on 27 November 2025, and the necessary documents were filed with the Ministry of Corporate Affairs, culminating in the official dissolution.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

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TOPICS: Ghogarpalli Integrated Power Company Odisha Power Finance Corporation