PFC shares fall after it transfers Saswad Transmission to Maharashtra State Electricity Transmission

Shares of Power Finance Corporation Ltd gained more than 2% on Friday, February 27, after the company announced the transfer of Saswad Transmission Ltd, a special purpose vehicle (SPV), to Maharashtra State Electricity Transmission Company Ltd.Saswad Transmission Ltd is a wholly owned subsidiary of PFC Consulting Ltd, which in turn is a wholly owned subsidiary of Power Finance Corporation (PFC). The SPV was incorporated for the development of the “Establishment of 400/220 kV AIS Substation at Saswad in District Pune, Maharashtra.”

PFC said the sale and transfer process to the successful bidder was completed on February 26, 2026. The consideration received for the transaction is ₹3.79 crore, as per the Share Purchase Agreement.
Read more: Zydus Lifesciences moves closer to US launch of key cancer drug biosimilarThe company clarified that the contribution of Saswad Transmission Ltd to PFC’s turnover, revenue and net worth in the last financial year was negligible.

PFC further stated that Maharashtra State Electricity Transmission Company Ltd does not belong to the promoter or promoter group of PFC. The transaction does not qualify as a related party transaction and is not like a slump sale.

The consideration for the sale and transfer of such SPVs is determined in accordance with guidelines issued by the Ministry of Power from time to time, the company added.

Shares of the Power Finance Corporation Ltd closed 2% lower at ₹412.20 following the announcement. The stock has gained 13.98% in the last month.