Power Finance Corporation Limited (PFC), the largest NBFC Group in India has incorporated its wholly owned subsidiary, PFC Infra Finance IFSC Limited, in the International Financial Services Centre (IFSC) GIFT City, Gujarat. This is a landmark development as PFC will be the first Govt. NBFC to establish a finance company in IFSC.
The incorporation follows the receipt of a No Objection letter from the Reserve Bank of India (RBI) on January 9, 2024, for setting up of the Finance Company by PFC in IFSC GIFT City, Gujarat. PFC Infra Finance IFSC Limited was officially incorporated on February 11, 2024.
Commenting on this achievement, Ms. Parminder Chopra, CMD PFC stated that “establishing subsidiary in IFSC is a strategic initiative for expanding our financing capabilities. IFSC provides a unique platform to access global capital and expertise, which will enable us to provide even more efficient and innovative financing solutions for our clients. PFC Infra Finance IFSC Limited will focus on providing financial solutions for infrastructure projects across various sectors, including renewable energy and will help in taking PFC’s brand to a global level.”
PFC incorporates its wholly owned subsidiary “’PFC Infra Finance IFSC Limited” in GIFT City Gujarat
