Power Finance Corporation Limited (PFC) Transfers NERGS III Siang Basin Transmission Ltd to DRA Infracon

New Delhi: Power Finance Corporation Limited (PFC) has announced the transfer of NERGS III Siang Basin Transmission Limited, a wholly owned subsidiary of PFC Consulting Limited, to Dineshchandra R. Agrawal Infracon Private Limited.

The transaction was completed on May 26, 2026, according to a regulatory filing submitted by the company to stock exchanges on May 27, 2026.

SPV Developed for NERGS-II Siang Basin Project

NERGS III Siang Basin Transmission Limited was established for the development of the “NERGS-II Siang Basin” transmission project.

The special purpose vehicle (SPV) was held under PFC Consulting Limited, which itself is a wholly owned subsidiary of Power Finance Corporation Limited.

Transaction Value and Buyer Details

PFC stated that the consideration received from the transfer amounted to Rs 19.70 crore.

The successful bidder for the project SPV was identified as Dineshchandra R. Agrawal Infracon Private Limited.

According to the company, the transaction does not qualify as a related party transaction, and the buyer does not belong to the promoter or promoter group of PFC.

Not a Slump Sale

The company clarified that the transfer is not in the nature of a slump sale. PFC added that the valuation and transfer process were conducted in accordance with guidelines issued by the Ministry of Power, Government of India from time to time.

The disclosure was signed by Manish Kumar Agarwal, Company Secretary and Compliance Officer of Power Finance Corporation Limited.

About PFC

Power Finance Corporation Limited is a Government of India undertaking and one of the country’s leading power sector-focused financial institutions. The company plays a major role in funding and facilitating power and infrastructure projects across India.