Divestment29 May 2026, 03:44 pm
PFC divests Kurnool IV REZ Power Transmission to Resonia Ltd
AI Summary
Power Finance Corporation Ltd (PFC) has divested its wholly-owned subsidiary, Kurnool IV REZ Power Transmission Limited, to Resonia Limited (formerly Sterlite Grid 32 Limited) on May 29, 2026. The consideration received from the sale is ₹20,93,72,682 as per the Share Purchase Agreement. Resonia Limited is the successful bidder and is not part of the promoter group. The transaction is not a related party transaction and is not a slump sale. The consideration was determined per the Ministry of Power guidelines.
Key Highlights
- PFC divests Kurnool IV REZ Power Transmission Limited to Resonia Limited.
- The sale consideration is ₹20,93,72,682 as per the Share Purchase Agreement.
- Resonia Limited is not part of the promoter group.
- The transaction is not a related party transaction or a slump sale.
- Consideration determined as per Ministry of Power guidelines.
Price Impact
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