What was filed
Power Finance Corporation told the exchanges that three wholly owned subsidiaries of PFC Consulting Limited — itself a wholly owned subsidiary of PFC — were transferred to the respective successful bidders on 12 October 2026. The three are special-purpose vehicles set up to build inter-state transmission links for evacuating renewable power from the Jam Khambhaliya and Lakadia zones in Gujarat and the Jamnagar phase.
Two of the SPVs — Jam Khambhaliya REZ Transmission Limited and Lakadia C Power Transmission Limited — went to Power Grid Corporation of India Limited. The third, Lakadia A Power Transmission Limited, went to AnantGrid Projects One Private Limited.
How the sale was structured
PFC said the process for sale and transfer to the winning bidders was completed on 12 October 2026, each via a Share Purchase Agreement. It noted that the buyers do not belong to the promoter or promoter group, that the transactions do not fall within the purview of related-party transactions, and that none is in the nature of a slump sale.
The consideration, PFC added, was determined in accordance with guidelines issued from time to time by the Ministry of Power.
Why this fits PFC Consulting's model
The transfers reflect PFC Consulting's role as a bid process coordinator: it sets up transmission project companies, runs the tariff-based competitive bidding, and hands the completed shell to the developer who wins. PFC described each unit's contribution to turnover, revenue, income and net worth during the last financial year as negligible — consistent with SPVs that carry a project licence rather than generate standalone earnings.