Power Finance Corporation completes Rs 8.04 crore sale of subsidiary to Power Grid Corporation

Business Desk — Fri, 13 Mar 2026 07:21:11 +0000

Power Finance Corporation Limited has successfully transferred its wholly owned subsidiary, NES Pune East New Transmission Limited, to Power Grid Corporation of India Limited for a consideration of ₹8,04,74,138. The transaction was finalised on 12th March 2026.

NES Pune East New Transmission Limited was established for the development of the ‘Network Expansion Scheme in Maharashtra for removal of Transmission Constraints in Pune Region-I (765/400 Kv Pune East)’. The turnover or revenue contributed by this subsidiary was negligible during the last financial year.

The sale agreement was completed as per the Share Purchase Agreement, and the transaction does not fall within the purview of related party transactions. Additionally, it is not considered a slump sale. The sale and transfer were conducted 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).

NES Pune East New Transmission | Business Upturn

Power Finance Corporation completes Rs 8.04 crore sale of subsidiary to Power Grid Corporation