Power Finance Corporation Ltd has incorporated a new wholly owned subsidiary, Kadapa II REZ Transmission Limited, to facilitate the integration of the Kadapa-II Renewable Energy Zone transmission system.

The new entity operates as a Special Purpose Vehicle (SPV) under PFC Consulting Limited (PFCCL), which is itself a wholly owned subsidiary of Power Finance Corporation. This structural setup aligns with the company's role as the Bid Process Coordinator for independent transmission projects nominated by the Ministry of Power.

Role as Bid Process Coordinator

PFCCL was nominated by the National Committee on Transmission (NCT) in its 42nd meeting held on July 7, 2026. The nomination was formalized via a communication from the Central Electricity Authority, Ministry of Power, dated July 20, 2026. As the Bid Process Coordinator, PFCCL is responsible for selecting developers through tariff-based competitive bidding.

Preparatory Activities and Project Structure

The incorporation of the SPV is mandated under tariff-based competitive bidding guidelines. The entity will undertake critical preparatory activities required before the bidding process concludes. These activities include:

• Preparation of detailed project profiles.
• Conducting surveys and preparing technical reports.
• Initiating land acquisition processes.
• Seeking forest clearance, if applicable.

Transfer Mechanism

The SPV is designed as a temporary vehicle for project development. Upon completion of the international competitive bidding process, the SPV will be transferred to the successful bidder. The selected developer will then assume responsibility for developing the transmission scheme. This mechanism ensures that regulatory and logistical hurdles are cleared by the coordinator before handing over the project to the private developer.

Power Finance Corporation shares worth approximately ₹635.90 crore changed hands in a large trade signal flagged on the NSE and BSE.

This is a real-time large-trade signal, not a confirmed block or bulk deal. NSE/BSE publish official block and bulk deal reports only after market close — this trade may or may not appear there.

Trade details

The activity comprises two distinct clusters of trades printed within a short window. On the NSE, approximately 10,208,602 shares were traded at an average price of ₹334.65, resulting in a total value of ₹341.63 crore. Simultaneously, on the BSE, roughly 8,778,806 shares changed hands at ₹335.20, aggregating to ₹294.27 crore.

These figures represent trade-level data where multiple transactions clustered near a single price point. The system flagged this activity due to its size and speed relative to typical intraday volume.

What this is, and isn't: this reflects trade-level activity — a cluster of trades in the stock above, printed within a short window at or near the quoted price, for a combined value as stated. It is generated by our real-time trade-scanning system and is not, by itself, evidence of a block or bulk deal.

A block deal has to be executed in the exchange's dedicated window (8:45–9:00am or 2:05–2:20pm), within a set price band, and above the current minimum order size (₹25 crore). A bulk deal is when one client's total trading in a stock crosses 0.5% of its equity in a single day — confirmed only once every trade that client made is added up.

Both are published by NSE/BSE after trading hours end, typically after 3:30pm — never before. If this trade qualifies as either, it will appear in the exchange's own report later today, not here first.