Power Finance Corporation Limited

Power Finance Corporation Limited

Power Finance Corporation (PFC) has successfully priced and launched a USD 300 million bond issue with a 5.32% coupon rate, maturing in 2031. These notes, part of a larger Global Medium Term Note Programme, will be listed on NSE IFSC and India INX. The proceeds from this fundraise are earmarked for use in accordance with the Reserve Bank of India's external commercial borrowing guidelines, bolstering PFC's financial capacity for its lending operations.

Power Finance Corporation Limited

Power Finance Corporation Limited (PFC) announced the appointment of Shri Pankaj Gupta (DIN: 03415536) as a part-time Non-Official Director on its Board. His tenure is for a period of three years, or until further orders. Shri Gupta is a Chartered Accountant with over 25 years of experience in tax advisory, audit, corporate law, and finance, having advised various entities on complex tax and capital market regulations. He is also a public policy commentator and contributor to professional journals.

Power Finance Corporation Limited

Power Finance Corporation Limited's wholly-owned subsidiary, Bihar Infrapower Limited (BIPL), has been struck off and dissolved by the Registrar of Companies under Section 248 of the Companies Act 2013. BIPL was incorporated in 2015 as a Special Purpose Vehicle for the Bihar UMPP project, which was subsequently shelved by the Ministry of Power. The Ministry of Power approved the company's closure in 2015. Necessary filings with the Ministry of Corporate Affairs led to its eventual dissolution. This administrative action formalizes the clean-up of a defunct entity.