PFC incorporates two special-purpose vehicle companies as wholly owned subsidiaries
Moreover, the two SPVs will be given to the successful bidder once the bidding process ends.
New Delhi: Two of Power Finance Corporation (PFC) special purpose vehicle (SPV) companies have been added as wholly-owned subsidiaries of PFC Consulting LTD. The company further mentioned in a regulatory filing that these SPV businesses will comprise NES Dharashiv Transmission Limited and NES Navi Mumbai Transmission Limited.
PFC said NSE Dharavi Transmission is being included for the transmission scheme to build the network expansion in Maharashtra for evacuation or generation of renewable energy from Dharashiv and Beed District. NES Navi Mumbai Transmission Ltd was established for the purpose of a transmission scheme to provide energy supply to Data Centre Loads in Mumbai.
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PFC Consulting Limited (PFCCL) would thus supervise the bidding process to choose a private business for the projects to develop the above-mentioned transmission network projects in Maharashtra.
Moreover, the two SPVs will be given to the successful bidder once the bidding process ends. "This is why the above SPVs have been added as entirely owned subsidiaries of PFCCL to build the specified gearbox system. After the bidding procedure is over, these SPVs will be passed to the successful bidder. The PSU stated the victorious bidder chosen during the bidding procedure will develop the project.
Read Also : HUDCO appoints two Non-Official Independent Directors on BoardThe statement on the shares came following Friday's market hours. Rising 1.35% on the National Stock Exchange (NSE), Power Finance Corporation (PFC) ended at Rs 407.80.
Over the week, the stock rose 5.10%; over a month, it rose 11.94%. From the beginning of year, the stock has down 9.07%. On July 12, 2024, the PSU Stock peaked at Rs 580, 52-week high; one-year low was Rs 351.70 on March 20, 2024. As of March 21, 2025, the company's total market value on the NSE is Rs 1.35 lakh crore.
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