Kolkata, India, February 22, 2025 – Maithan Alloys Limited (NSE: MAITHANALL) has disclosed the acquisition of shares in Power Finance Corporation Ltd. (PFC), a Maharatna Non-Banking Financial Corporation under the Ministry of Power. The acquisition was executed through the stock exchange, forming part of Maithan Alloys' investment strategy.
Key Highlights of the Acquisition
- Target Company: Power Finance Corporation Ltd.
- Industry: Financial Institution (Infrastructure Finance)
- Acquisition Date: February 21, 2025
- Consideration: ₹1.87 crore (Cash transaction)
- Existing Shareholding: 0.0015%
- Additional Shares Acquired: 0.00001% (48,000 shares)
- Acquisition Type: Open market purchase; no intention to acquire management control
- Regulatory Approval: Not required
- Transaction Mode: In tranches
About Power Finance Corporation Ltd.
PFC is a key player in India's infrastructure financing landscape, holding a 20% market share. It provides financing solutions for power projects and infrastructure development. With a turnover of ₹46,022 crore and a net worth of ₹79,203 crore, it plays a critical role in India's energy sector.Strategic Intent
Maithan Alloys emphasized that the acquisition aligns with its investment objectives, aimed at long-term and short-term investment benefits. The company has clarified that it does not seek management control of PFC.This acquisition marks Maithan Alloys' expansion into financial investments, reflecting its strategic diversification approach.
