PFC transfers Saswad Transmission SPV to MSETCL

Power Finance Corporation Limited (PFC) informed stock exchanges on February 27, 2026, that Saswad Transmission Limited has been transferred to Maharashtra State Electricity Transmission Company Limited (MSETCL). The transaction was completed on February 26, 2026.

Saswad Transmission Limited was a wholly owned subsidiary of PFC Consulting Limited, which in turn is a wholly owned subsidiary of PFC. It was incorporated as a special purpose vehicle for developing a 400/220 kV air-insulated substation (AIS) at Saswad in Pune district, Maharashtra.

MSETCL emerged as the successful bidder in the selection process. The transfer was executed under a Share Purchase Agreement for a consideration of Rs 3,79,31,992. The pricing was determined in line with guidelines issued by the Ministry of Power, Government of India.

PFC stated that MSETCL is not part of its promoter or promoter group. The company clarified that the transaction does not qualify as a related party transaction or a slump sale. It also noted that Saswad Transmission Limited’s contribution to PFC’s consolidated turnover, revenue and net worth in the previous financial year was negligible.

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