PFC Board Officially Approves ₹1,60,000 Crore Fundraising Program and ₹3.25 Dividend

Power Finance Corporation board has officially approved a comprehensive fundraising program of up to ₹1,60,000 crore for fiscal year 2026-27 along with declaration of fourth interim dividend of ₹3.25 per share for FY 2025-26. The board meeting held on March 17, 2026, concluded with approval of both major financial proposals as communicated to stock exchanges through official regulatory filing.

Board Meeting Outcomes and Approved Proposals

The board meeting commenced at 11:30 AM and concluded at 2:15 PM, successfully deliberating and sanctioning two significant financial initiatives. The comprehensive market borrowing program and interim dividend distribution reflect the company's strategic approach to capital management and shareholder value creation under Regulation 30 of SEBI Listing Obligations.

Meeting Details:	Information
Meeting Date:	March 17, 2026
Meeting Duration:	11:30 AM to 2:15 PM
Total Fundraising:	Up to ₹1,60,000 Crore
Funding Period:	FY 2026-27
Interim Dividend:	₹3.25 per Share (4th Interim FY 2025-26)
Record Date:	March 23, 2026 (Monday)

Comprehensive Fundraising Program Breakdown

The approved market borrowing program encompasses multiple funding instruments across domestic and international markets. The detailed breakdown includes long-term, medium-term, and short-term borrowing options to diversify funding sources and optimize capital structure, excluding funds raised and prepaid during the financial year.

Borrowing Category:	Amount (₹ Crore)	Details
Long/Medium Term Domestic:	1,10,000	Bonds, Term Loans, Tax-free Securities
Foreign Currency Borrowings:	20,000	USD 2.21 Billion equivalent
Short Term Domestic:	20,000	Short Term Loans, ICDs
Commercial Paper:	10,000	CP Issuances
Total Program:	1,60,000	Multiple Tranches/Series

Dividend Distribution and Payment Schedule

The board declared the fourth interim dividend of ₹3.25 per share (32.50% on face value of ₹10) for FY 2025-26, subject to TDS deduction. The company has established a clear timeline for dividend processing and payment to eligible shareholders with electronic transfer as the only permitted mode.

Dividend Parameters:	Details
Dividend Amount:	₹3.25 per Share
Dividend Rate:	32.50% on Face Value
Face Value:	₹10 per Share
Record Date:	March 23, 2026 (Monday)
Payment Date:	On or before April 16, 2026
Payment Mode:	Electronic Transfer Only

Regulatory Compliance and Authorization Framework

Power Finance Corporation has implemented comprehensive compliance measures in accordance with SEBI regulations and Companies Act provisions. The Chairman & Managing Director, on recommendation of Director (Finance), is authorized to interchange amounts amongst different borrowing sources within overall board-approved limits under sections 179(3)(c) and 179(3)(d) of the Companies Act 2013.

Shareholders seeking lower TDS rates or exemptions must submit scanned copies of PAN, Form 15G/15H, and other requisite documents through the designated online portal before March 23, 2026. The company emphasizes that no communication regarding tax determination shall be entertained after the record date, and dividend payments will be made exclusively through electronic modes as per recent amendments to listing regulations.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-4.17%	-8.08%	-8.29%	-4.48%	-9.86%	+326.98%

Power Finance Corporation Limited has officially announced the strike off and dissolution of its wholly owned subsidiary Ghogarpalli Integrated Power Company Limited (GIPCL), effective March 16, 2026. The dissolution has been executed under section 248 of the Companies Act 2013 by the registrar of companies.

Company Background and Purpose

GIPCL was incorporated on May 22, 2008, under the Companies Act, 1956, functioning as a Special Purpose Vehicle (SPV). The subsidiary was established with the specific objective of developing an Ultra Mega Power Project with a capacity of 4000 MW in the state of Odisha.

Parameter:	Details
Incorporation Date:	May 22, 2008
Original Act:	Companies Act, 1956
Project Capacity:	4000 MW
Project Location:	Odisha
Entity Type:	Special Purpose Vehicle (SPV)

Project Closure and Regulatory Approval

The company subsequently decided to close the Ultra Mega Power Project, leading to the initiation of the dissolution process. The Ministry of Power, Government of India, granted its approval for the closure and striking off of the company name on November 27, 2025.

Following the ministerial approval, Power Finance Corporation filed the required documents for closure and strike off with the Ministry of Corporate Affairs (MCA). The MCA subsequently approved the dissolution on March 16, 2026.

Material Impact Assessment

Power Finance Corporation has clarified that GIPCL was not classified as a material subsidiary of the company. This classification indicates that the dissolution is unlikely to have significant financial or operational impact on the parent company's overall business operations.

Regulatory Compliance

The dissolution process has been conducted in full compliance with the provisions of section 248 of the Companies Act 2013. Power Finance Corporation has duly informed both the National Stock Exchange of India Limited and BSE Limited about this corporate development through official communication dated March 17, 2026.

The strike off represents the formal conclusion of GIPCL's corporate existence and marks the end of the Ultra Mega Power Project initiative in Odisha that was originally conceived in 2008.