Power Finance Corporation Ltd.

Power Finance Corporation (PFC) has acquired over 23.32% stake in Shree Maheshwar Hydel Power Corporation (SMHPCL) by invoking pledged shares and partially converting debt into equity.

PFC is one of the lenders of Shree Maheshwar Hydel Power Corporation and had given a loan of Rs 700 crore to SMHPCL along with guaranteeing Rs 400 crore to the bond holders of the company.

PFC provides large range of financial products and services like project term loan, lease financing, direct discounting of bills, short term loan, and consultancy services for various power projects in generation, transmission, distribution sector as well as for renovation and modernization of existing power projects.