Power Finance Corporation Limited (PFC), through its wholly-owned subsidiary PFC Consulting Limited, has completed the sale of NERGS III Siang Basin Transmission Limited to Dineshchandra R. Agarwal Infracon Private Limited for a consideration of Rs 19.70 crore. The transaction was completed on May 26, 2026, as per the share purchase agreement.
PFC confirmed that Dineshchandra R. Agarwal Infracon Private Limited was the successful bidder and does not belong to the promoter or promoter group. The consideration was determined in accordance with guidelines issued by the Ministry of Power, Government of India.
NERGS III Siang Basin Transmission Limited was established as a special purpose vehicle for the development of the NERGS-II Siang Basin project. The contribution of this subsidiary to PFC's revenue and net worth during the last financial year was negligible.
The transaction does not fall within the purview of related party transactions and is not in the nature of a slump sale. PFC disclosed the completion of the sale and transfer to the National Stock Exchange of India and BSE Limited.
Manish Kumar Agarwal, Company Secretary and Compliance Officer of PFC, signed the regulatory filing dated May 27, 2026. PFC is a Government of India undertaking and continues to hold PFC Consulting Limited as its wholly-owned subsidiary.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.