power finance corporation has transferred its wholly-owned subsidiary, Kakinada I Transmission Limited, to Power Grid Corporation of India for a consideration of ₹20,50,66,293. The transfer was completed on June 29, 2026, following a competitive bidding process. Kakinada I Transmission Limited was established to develop the transmission system for proposed green hydrogen and green ammonia projects in the Kakinada area (Phase-I).

The subsidiary was held through PFC Consulting Limited, another wholly-owned unit of Power Finance Corporation. The contribution of Kakinada I Transmission Limited to the listed entity's turnover and net worth during the last financial year was negligible. Power Grid Corporation of India Limited emerged as the successful bidder for the acquisition.

The transaction does not fall within the purview of related party transactions, as the buyer does not belong to the promoter or promoter group of Power Finance Corporation. Furthermore, the sale and transfer are not in the nature of a slump sale. The consideration for the transfer was determined in accordance with the guidelines issued by the Ministry of Power, Government of India.

Transaction Details

The completion of the transfer marks the exit of Power Finance Corporation from the specified transmission project, with the asset now moving under the control of the central transmission utility.

Power Finance Corporation Ltd has fixed Friday, July 31, 2026, as the record date for the payment of a final dividend of ₹3.95 per equity share for the financial year 2025-26. The dividend, declared on a face value of ₹10 each, was recommended by the company's Board of Directors during its meeting on May 13, 2026. Shareholders registered in the records of the company on this date will be eligible to receive the payout, pending approval at the ensuing Annual General Meeting.

The disbursement is contingent upon shareholder approval during the Annual General Meeting. Once sanctioned, the company aims to distribute the dividend within 30 days from the date of the meeting approval.

Tax Deduction and Compliance

The company has noted that dividend income is taxable in the hands of shareholders under the provisions of the Income Tax Act, 1961. Consequently, Power Finance Corporation is required to deduct tax at source (TDS) at the rates prescribed by the Act at the time of payment.

Shareholders wishing to avail of a lower tax deduction rate or no deduction must submit specific documentation, including a scanned copy of their PAN and Form 15G or 15H, through the designated portal. The company has specified that no communications regarding tax determination or lower deduction requests will be entertained after July 31, 2026.

Key Dividend Details