Power Finance Corporation Ltd reported the superannuation of Rajesh Kumar Shahi, Executive Director (Projects), from its services. The change in senior management took effect on September 30, 2026, following the attainment of the retirement age.

The company filed an intimation with the National Stock Exchange of India Limited and BSE Limited regarding this change. The disclosure was made in compliance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Change in Senior Management Details

The specific details of the management change are outlined below:

The filing noted that the brief profile and disclosure of relationships between directors were not applicable as this was a departure rather than an appointment.

Regulatory Compliance

The intimation was signed by Manish Kumar Agarwal, Company Secretary and Compliance Officer, on October 1, 2026. The document confirms that the superannuation occurred after normal working hours on the specified date.

Power Finance Corporation has completed the transfer of two wholly owned subsidiaries of its subsidiary PFC Consulting Limited. The transactions were finalized on September 28, 2026.

Transaction details

The divestments involve distinct buyers and specific transmission infrastructure projects. The following table summarises the key details of each sale:

The combined consideration from the two sales amounts to proceeds from two separate deals. Latur REZ Transmission Limited was established for the development of "Establishment of 400/220/132 kV AIS Latur" and was sold to Montecarlo Energy Limited for ₹3.72 crore. Raigad Power Transmission Limited, established for the development of "Establishment of 765/400/220 kV AIS Kandalgaon (Dist. Raigad)", was transferred to Apraava Energy Private Limited for ₹7.41 crore.

Regulatory and financial disclosures

Both subsidiaries contributed negligible turnover, revenue, or income and net worth during the last financial year. The consideration received is as per the Share Purchase Agreement. Neither transaction falls within the purview of related party transactions, and neither buyer belongs to the promoter or promoter group.

The proposal for sale and transfer is not in the nature of a slump sale. The consideration for the sale and transfer of these Special Purpose Vehicles (SPVs) is determined in accordance with guidelines issued by the Ministry of Power, Government of India.