Power Finance Corporation Ltd. (PFC) has transferred its wholly-owned subsidiaries, SR And ER Power Transmission Limited and Morena I SEZ Transmission Limited, to Power Grid Corporation of India Limited and Enerica Infra 1 Private Limited respectively, effective February 3, 2026. The total consideration received from the sale amounts to ₹41.99 Crores, strengthening PFC’s financial position.
Subsidiary Transfers Completed
Power Finance Corporation Ltd. (PFC) has successfully transferred two of its wholly-owned subsidiaries: SR And ER Power Transmission Limited and Morena I SEZ Transmission Limited. The transfers were completed on February 3, 2026, with Power Grid Corporation of India Limited and Enerica Infra 1 Private Limited acquiring the respective entities.
Details of Transferred Entities
SR And ER Power Transmission Limited was established for the development of inter-regional strengthening between the SR Grid and ER Grid.
Morena I SEZ Transmission Limited was created for the development of a transmission system to evacuate power from RE Projects in Morena SEZ in Madhya Pradesh, Phase I (2500MW).
Financial Impact
The contribution of these units to PFC’s turnover, revenue, income, and net worth was negligible.
Consideration Received
PFC received a total consideration of ₹41,98,96,134 from the sale of these subsidiaries:
SR And ER Power Transmission Limited: ₹19,63,36,237
Morena I SEZ Transmission Limited: ₹22,35,59,897
Buyer Details
The successful bidders, Power Grid Corporation of India Limited and Enerica Infra 1 Private Limited, do not belong to the Promoter and Promoter group of Power Finance Corporation.
Nature of Transaction
The transaction is not considered a related party transaction or a slump sale. The consideration for the sale and transfer of SPVs was determined in accordance with guidelines issued by the Ministry of Power, Government of India.
Source: BSE
