Power Finance Corporation has scheduled a board meeting for March 17, 2026, to consider key financial proposals including resource raising initiatives and interim dividend declaration. The company has formally notified stock exchanges about the meeting agenda under regulatory compliance requirements.

Board Meeting Agenda

The board will deliberate on two significant proposals during the scheduled meeting. The primary focus includes the market borrowing program for fiscal year 2026-2027 and potential dividend distribution for current fiscal year.

Market Borrowing Program Details

The proposed market borrowing program for fiscal year 2026-2027 encompasses multiple funding instruments including bonds, term loans, and commercial paper. The company plans to access both domestic and international markets to optimize its funding strategy and maintain adequate liquidity for operations.

Trading Window Closure

In compliance with regulatory requirements, Power Finance Corporation has implemented an immediate closure of the trading window for equity shares and listed debt securities. All designated persons and their immediate relatives have been advised against dealing in company securities during this period.

The notification was signed by Company Secretary Manish Kumar Agarwal and communicated to both National Stock Exchange of India Limited and BSE Limited as per SEBI listing regulations.

Power Finance Corporation Limited has completed the transfer of its wholly owned subsidiary to Maharashtra State Electricity Transmission Company Limited following a successful bidding process, marking a significant corporate restructuring move in the power transmission sector.

Transaction Details

The transfer involves Saswad Transmission Limited, which was established specifically for the development of a 400/220 kV AIS Substation at Saswad in District Pune, Maharashtra. The subsidiary was originally a wholly owned entity of PFC Consulting Limited, which itself is a wholly owned subsidiary of Power Finance Corporation Limited.

Financial and Regulatory Aspects

Maharashtra State Electricity Transmission Company Limited emerged as the successful bidder in the competitive process. The transaction was completed for a total consideration of ₹3.79 crore as per the Share Purchase Agreement. The subsidiary's contribution to the parent company's turnover, revenue, income, and net worth during the last financial year was described as negligible.

Transaction Classification

Power Finance Corporation Limited has clarified several important aspects of this transaction:

• The transaction does not fall within the purview of related party transactions
• Maharashtra State Electricity Transmission Company Limited does not belong to the promoter or promoter group
• The transaction is not in the nature of a slump sale
• The consideration for sale and transfer of the subsidiary was determined in accordance with guidelines issued by the Ministry of Power, Government of India

Corporate Governance Compliance

The announcement was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations. The disclosure was signed by Manish Kumar Agarwal, Company Secretary and Compliance Officer, and communicated to both the National Stock Exchange of India Limited and BSE Limited.

This strategic divestment reflects Power Finance Corporation's ongoing portfolio optimization efforts in the power transmission infrastructure sector, transferring specialized transmission assets to state-level transmission utilities through transparent competitive processes.