Power Grid Corporation of India Ltd (PGCIL) has changed its earlier plan relating to merging its wholly-owned subsidiaries. The Central PSU will now merge 28 of them, instead of the earlier planned eleven.
In a brief stock exchange disclosure, PGCIL said that its board of directors, in its meeting held on March 19, 2026, approved the merger/amalgamation of 28 wholly-owned subsidiaries into two others.
The new proposal supersedes the earlier proposal, approved by the PGCIL board on December 20, 2025, wherein it was decided to conduct the same exercise with respect to 11 of its wholly-owned subsidiaries.
More details will be communicated in due course, the PGCIL filing said.
Background
It may be mentioned that PGCIL is already in the process of merging 17 of its wholly-owned subsidiaries into two others, as described in detail in tndindia.com’s story dated November 4, 2025.
This proposal, approved by the PGCIL board on July 26, 2024, was pending approval from the Ministry of Corporate Affairs (MCA), as of November 4, 2025.
The wholly-owned subsidiaries being referred to here are TBCB subsidiaries of PGCIL and their merger/amalgamation is being considered to improve administrative efficiency.
According to information available with tndindia.com, the merger of 17 subsidiaries has not yet taken place. In light of the latest board meeting decision taken on March 19, 2026, it strongly appears that PGCIL is likely to merge 28 of its wholly-owned subsidiaries into two others, in one go. Adding credence to this possibility, is the fact that the merger proposal of 11 subsidiaries has now been scrapped.
TBCB subsidiaries
As estimated by tndindia.com, PGCIL currently has around 81 wholly-owned subsidiaries corresponding to interstate and intrastate TBCB schemes. This count excludes five erstwhile TBCB subsidiaries that have since been transferred to Powergrid Infrastructure Investment Trust (PGInvIT)