India’s Largest NBFC Power Finance Corporation Ltd. to set up a finance company in IFSC, GIFT City, Gujarat
Power Finance Corporation Ltd., India’s largest Non-Banking Financial Company (NBFC) and a Maharatna Central Public Sector Enterprise (CPSE),announced its plans to establish a wholly-owned subsidiary, a Finance company, in International Financial Services Center (IFSC) in GIFT City, Gujarat. This strategic decision aligns with PFC’s vision to diversify its business and maintain its long-term growth trajectory.
Commenting on the occasion, Chairman and Managing Director Ms. Parminder Chopra stated, “We are excited to embark on this new chapter.
The GIFT City platform provides a conducive environment for international lending activities and a world-class infrastructure. We are confident that PFC will leverage these advantages to carve a niche for itself in the global market.”
Ms Chopra added that the “IFSC entity will present new business opportunities for PFC and contribute to the growth of the country’s power sector.”
PFC’s entry into IFSC is expected to unlock new opportunities not only for PFC but also to strengthen India’s position in global finance and contribute to the growth of the GIFT City ecosystem.