Power Finance Corporation (PFC) has successfully divested its wholly-owned subsidiary, Fatehgarh II Transmission Limited, to Power Grid Corporation of India Limited. The transaction, valued at ₹19,11,35,596, marks a strategic move by PFC. Fatehgarh II Transmission was established for the development of synchronous condenser units at the Fatehgarh-II Power Station. The sale was completed on August 28, 2026, and the consideration was determined as per the Share Purchase Agreement.
PFC Completes Subsidiary Sale
Power Finance Corporation Limited (PFC) announced the successful transfer of its wholly-owned subsidiary, Fatehgarh II Transmission Limited, to Power Grid Corporation of India Limited. The transaction was completed on August 28, 2026. Fatehgarh II Transmission Limited was originally established for the development of the project “Installation of 2 Nos. of Synchronous Condensers (SynCon) units at 765/400/220 kV Fatehgarh-II PS”.
Transaction Details
The amount received from this sale and disposal is Rs. 19,11,35,596/- (Rupees Nineteen Crore Eleven Lakh Thirty Five Thousand Five Hundred Ninety Six Only). The buyer, Power Grid Corporation of India Limited, does not belong to the promoter or promoter group of PFC. The transaction has been confirmed as not falling within the purview of related party transactions and is not in the nature of a slump sale.
The consideration for the sale and transfer of the Special Purpose Vehicle (SPV) was determined in accordance with the Guidelines issued by the Ministry of Power, Government of India.
Source: BSE
