Three transmission SPVs transferred to Power Grid Corporation and AnantGrid Projects One

Three wholly owned subsidiaries of PFC Consulting Ltd (a wholly owned subsidiary of Power Finance Corporation) were transferred to successful bidders on 12.10.2026.

Mon 12 Oct 2026

Consideration - Jam Khambhaliya REZ Transmission Ltd

Rs. 19,22,27,359

Consideration - Lakadia C Power Transmission Ltd

Rs. 19,93,64,817

Consideration - Lakadia A Power Transmission Ltd

Rs. 19,31,67,181

Power Finance Corporation has informed the stock exchanges about the transfer of three of its step-down subsidiaries.

What was transferred

Three wholly owned subsidiaries of PFC Consulting Limited — itself a wholly owned subsidiary of Power Finance Corporation — were transferred to their respective successful bidders on 12.10.2026. These companies were set up as special purpose vehicles (SPVs) to develop transmission projects.

The three SPVs and their buyers

• Jam Khambhaliya REZ Transmission Limited: set up for the development of the transmission system for integration of power from renewable energy projects in Jam Khambhaliya REZ in Gujarat, Phase II and Jamnagar Phase-I. Transferred to Power Grid Corporation of India Limited.
• Lakadia C Power Transmission Limited: set up for the development of the common transmission system for evacuation of power from Lakadia (Phase-II), Jam Khambhaliya (Phase-II) and Jamnagar (Phase-I), Part-C. Transferred to Power Grid Corporation of India Limited.
• Lakadia A Power Transmission Limited: set up for the development of the same common transmission system, Part-A. Transferred to AnantGrid Projects One Private Limited.

Consideration received

• Jam Khambhaliya REZ Transmission Limited: Rs. 19,22,27,359
• Lakadia C Power Transmission Limited: Rs. 19,93,64,817
• Lakadia A Power Transmission Limited: Rs. 19,31,67,181

Each amount is stated to be as per the Share Purchase Agreement. The update adds that the consideration for the sale and transfer of the SPVs is determined in accordance with the guidelines issued, from time to time, by the Ministry of Power, Government of India.

Other points stated in the update

• The amount and percentage of the turnover, revenue or income and net worth contributed by these units during the last financial year is Negligible.
• The successful bidders do not belong to the promoter or promoter group.
• The transaction does not fall within the purview of a related party transaction.
• The transaction is not in the nature of a slump sale.
• The process for sale and transfer of the said SPVs to the successful bidders is completed on 12.10.2026.

How to read this

The disclosure records the completion of the transfer of these project SPVs to the bidders who won them, with the consideration amounts stated above. Investors can note the three amounts received, that the buyers are outside the promoter group, and that the contribution of these units to turnover and net worth is described in the update as negligible.

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