Power Finance Corporation Limited
Nippon India Mutual Fund decreased its stake in Power Finance Corporation Limited from 1.64% to 1.29%, selling 11,455,054 shares. The value of the sold shares is ₹417.37 Cr at an approximate price of ₹364.00 per share.
A systemically important non-deposit taking NBFC registered with the RBI as an Infrastructure Finance Company, this organization extends financial assistance to India's power sector. The company specializes in providing structured financing for power projects across generation, transmission, and distribution segments. It operates as a dedicated financier supporting development of critical power infrastructure and energy projects nationwide.
India's fifth-largest AMC with over Rs 6 lakh crore in AUM, backed by Japan's Nippon Life Insurance which holds majority stake. Formerly Reliance MF, rebranded in 2019 after Nippon's acquisition. Sailesh Raj Bhan has run the equity book for over two decades and is one of India's most experienced active managers. Known for sector rotational calls and a deep research bench.