Power Finance Corporation Limited (PFC) announced the successful transfer of its wholly-owned subsidiary, NES Dharashiv Transmission Limited, to Montecarlo Limited. The sale, completed on March 12, 2026, realized a consideration of ₹3.61 crore. The subsidiary was created for the development of the ‘Network Expansion Scheme in Maharashtra.’ PFC confirmed that the transaction was not classified as a related-party transaction or a slump sale, adhering to Ministry of Power guidelines.
Divestment of Power Transmission Asset
Power Finance Corporation Limited (PFC) has confirmed the successful divestment of its wholly-owned subsidiary, NES Dharashiv Transmission Limited. This entity was established specifically for the development of the “Network Expansion Scheme in Maharashtra for Evacuation of RE Power from Dharashiv, Beed District”.
Transaction Details and Successful Bidder
The transfer process and final sale of the Special Purpose Vehicle (SPV) to the successful bidder were officially completed on March 12, 2026.
The key details regarding the transaction are as follows:
- Amount of Sale Consideration: Rs. 3,61,11,559/- (Rupees Three Crore Sixty-One Lakh Eleven Thousand Five Hundred Fifty-Nine only), as stipulated in the Share Purchase Agreement.
- Successful Bidder Name: Montecarlo Limited.
- Buyer Classification: It is specifically noted that Montecarlo Limited does not belong to the Promoter or Promoter group of PFC.
- Impact on PFC: The financial contribution (turnover, revenue, or net worth) of NES Dharashiv Transmission Limited to PFC during the last financial year was deemed Negligible.
Compliance and Regulatory Adherence
PFC confirmed that the entire process for the sale and transfer of the SPV was determined in accordance with the guidelines issued by the Ministry of Power, Government of India.
Furthermore, the transaction does not fall within the purview of related party transactions. It was also clarified that the nature of this sale and transfer is not a slump sale.
This communication serves for the information and necessary dissemination by all relevant stakeholders.
Source: BSE
