Acquisitions5 Jun 2025, 01:21 pm
Power Finance Corporation Ltd Transfers MEL Power Transmission Limited to Power Grid Corporation of India Limited
AI Summary
Power Finance Corporation Ltd has transferred MEL Power Transmission Limited, a wholly owned subsidiary of PFC Consulting Limited, to Power Grid Corporation of India Limited. The subsidiary was established for the development of 'Transmission System for evacuation of power from Mahan Energen Limited Generating Station in Madhya Pradesh'. The sale was completed on 4th August 2025 for a consideration of Rs. 8,53,11,419 as per the Share Purchase Agreement. Power Grid Corporation of India Limited does not belong to the promoter or promoter group, and the transaction does not fall under related party transactions or slump sale.
Key Highlights
- Power Finance Corporation Ltd transfers MEL Power Transmission Limited to Power Grid Corporation of India Limited
- MEL Power Transmission Limited established for the development of 'Transmission System for evacuation of power from Mahan Energen Limited Generating Station in Madhya Pradesh'
- Sale completed on 4th August 2025 for a consideration of Rs. 8,53,11,419 as per the Share Purchase Agreement
- Power Grid Corporation of India Limited does not belong to the promoter or promoter group
- The transaction does not fall under related party transactions or slump sale