Power Finance Corporation Ltd. announced the cessation of Shri G. Jawahar as Executive Director due to superannuation effective May 31, 2026. The company disclosed this change in senior management in compliance with Regulation 30 read with Schedule III of the SEBI (LODR) Regulations, 2015.

Change in Senior Management

The transition occurred as the official attained the age of superannuation. The filing submitted to the exchanges detailed the specifics of the departure.

The disclosure was signed by Manish Kumar Agarwal, Company Secretary & Compliance Officer, for power finance corporation .

Power Finance Corporation Limited completed the transfer of its wholly owned subsidiary, TUMKUR II RE Transmission Limited, to Power Grid Corporation of India Limited on May 29, 2026, for a consideration of ₹15,46,38,881. The transaction was finalized under a Share Purchase Agreement following a competitive bidding process. This strategic move involves the transfer of a special purpose vehicle (SPV) established for the development of transmission system strengthening at Tumkur-II for the integration of additional renewable energy potential of 1.5 GW.

The transfer was executed by PFC Consulting Limited, a wholly owned subsidiary of Power Finance Corporation . Power Grid Corporation of India Limited emerged as the successful bidder for the acquisition. The company clarified that the successful bidder does not belong to the promoter or promoter group of Power Finance Corporation Limited. Consequently, the transaction does not fall within the purview of related party transactions.

The financial impact of the transfer on Power Finance Corporation Limited is minimal, as the turnover and net worth contributed by the unit during the last financial year were negligible. The consideration for the sale and transfer of the SPV was determined in accordance with the guidelines issued by the Ministry of Power, Government of India. The company confirmed that the transaction is not in the nature of a slump sale.

Transaction Details

The following table outlines the key particulars of the transaction:

The subsidiary was specifically incorporated to facilitate the Transmission System Strengthening at Tumkur-II project. This project aims to integrate an additional renewable energy potential of 1.5 GW into the grid. The completion of the sale process marks the conclusion of the transfer of this wholly owned subsidiary to the successful bidder.