Joint Venture1 Apr 2025, 04:12 pm
Power Finance Corporation Ltd Transfers WoS of PFCCL to Resonia Limited
AI Summary
Power Finance Corporation Ltd has transferred the Wholly Owned Subsidiary (WoS) of PFC Consulting Limited, Anantapur II REZ Transmission Limited, to Resonia Limited (Formerly known as Sterlite Grid 32 Limited). The SPV was established for the development of ‘Transmission System for Integration of Anantapur-II REZ - Phase-I (for 4.5 GW)’. The transaction was completed on 31.03.2025 with a consideration of Rs. 19,23,35,520/- as per the Share Purchase Agreement.
Key Highlights
- Power Finance Corporation Ltd transfers WoS of PFCCL to Resonia Limited
- Transaction completed on 31.03.2025
- Consideration of Rs. 19,23,35,520/- as per the Share Purchase Agreement
- Resonia Limited does not belong to Promoter and Promoter group
- Transaction does not fall within the purview of related party transaction