Power Finance Corporation Limited (PFC) has announced the successful transfer of its step-down subsidiary, Wagdari Transmission Limited. The transaction was completed on March 27, 2026, marking the end of the divestment process for this special purpose vehicle (SPV).
Wagdari Transmission Limited was set up to develop an important power infrastructure project called the “Transmission Scheme for Establishment of 400/220 kV AIS Wagdari” in the Solapur district. The company operated as a wholly owned subsidiary of PFC Consulting Limited, which in turn is fully owned by PFC.
After a competitive bidding process, KCC Buildcon Private Limited emerged as the successful bidder for the project. As per the Share Purchase Agreement, the total consideration for the transfer of the SPV stood at ₹4.41 crore. PFC clarified that the buyer is not related to its promoter group, and the deal does not qualify as a related party transaction.
The company also stated that the transaction is not a slump sale. The valuation and consideration were determined in line with the guidelines issued by the Ministry of Power, ensuring transparency and compliance with regulatory norms.
From a financial perspective, the impact of this divestment on PFC remains very limited. The contribution of Wagdari Transmission Limited to the company’s overall turnover, revenue, and net worth in the last financial year was negligible.
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