Power Finance Corporation (PFC) Transfers NES Pune East Transmission Project to Power Grid for ₹8.04 Crore
New Delhi, 13 March 2026: Power Finance Corporation Limited (PFC), a Government of India enterprise and a leading power sector financier, has announced the transfer of its transmission project company NES Pune East New Transmission Limited to Power Grid Corporation of India Limited following the completion of a competitive bidding process.
The transaction was completed on 12 March 2026, according to a regulatory disclosure submitted to the BSE Limited and the National Stock Exchange of India Limited.
NES Pune East New Transmission Limited was a wholly owned subsidiary of PFC Consulting Limited, which itself is a subsidiary of Power Finance Corporation Limited.
Purpose of the Transmission Project
The special purpose vehicle (SPV) was created to develop the “Network Expansion Scheme in Maharashtra for Removal of Transmission Constraints in Pune Region-I (765/400 kV Pune East)”.
The project is part of efforts to strengthen transmission infrastructure and improve power evacuation capacity in the Pune region of Maharashtra.
Sale Value and Transaction Details
PFC confirmed that the SPV has been transferred to Power Grid Corporation of India Limited, which emerged as the successful bidder in the transmission project bidding process.
The company received ₹8,04,74,138 (about ₹8.04 crore) as consideration under the Share Purchase Agreement for the sale and transfer of the SPV.
Transaction Structure
According to the filing, the transaction:
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Does not fall under related party transactions
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Is not structured as a slump sale
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Has been executed in accordance with guidelines issued by the Ministry of Power, Government of India
The revenue contribution of the transferred entity to the listed company in the previous financial year was described as negligible.
Transaction Highlights
Project SPV: NES Pune East New Transmission Limited
Parent Company: Power Finance Corporation Limited
Subsidiary Owner: PFC Consulting Limited
Buyer: Power Grid Corporation of India Limited
Transaction Value: ₹8,04,74,138
Completion Date: 12 March 2026
Stock Exchanges: NSE – PFC, BSE – 532810
The transfer reflects the standard tariff-based competitive bidding process used for developing interstate transmission projects in India, where project SPVs are transferred to the successful developer after bidding.