Divestment28 Sept 2026, 05:40 pm
PFC Divests Two Subsidiaries for ₹11.12 Cr
AI Summary
Power Finance Corporation Ltd (PFC) has announced the transfer of its wholly-owned subsidiaries, Latur REZ Transmission Limited and Raigad Power Transmission Limited, to successful bidders. Latur REZ Transmission was sold to Montecarlo Energy Limited for ₹3,71,81,895, while Raigad Power Transmission was acquired by Apraava Energy Private Limited for ₹7,40,55,693. The transactions were completed on September 28, 2026. These subsidiaries were established for specific power transmission projects. The net worth and turnover contributed by these units were negligible.
Key Highlights
- PFC divested two wholly-owned subsidiaries, Latur REZ and Raigad Power Transmission.
- Total consideration received from the sale amounts to ₹11,12,37,588.
- The transactions were completed on September 28, 2026.
- The financial contribution of these subsidiaries was negligible.
- Montecarlo Energy and Apraava Energy are the respective successful bidders.
Price Impact
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