Intimation of incorporation of subsidiary company.
RECLTD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
REC Limited announced the incorporation of 'SR WR Power Transmission Limited' on July 1, 2025, as a wholly owned subsidiary through its subsidiary REC Power Development and Consultancy Limited (RECPDCL). The new company has an authorized and paid-up capital of ₹5,00,000 each and is yet to commence business. It has been set up to act as a Special Purpose Vehicle (SPV) for an inter-state transmission project between the Southern Region (SR) Grid and Western Region (WR) Grid, as allocated by the Ministry of Power through a Gazette Notification dated May 21, 2025. RECPDCL has been appointed as the Bid Process Coordinator (BPC) to select the successful bidder under the Tariff Based Competitive Bidding (TBCB) framework, after which the SPV will be transferred to the selected bidder along with all assets and liabilities.
This is a routine operational step in REC's standard business model of acting as a Bid Process Coordinator for power transmission projects. The subsidiary will be transferred to the successful bidder, so it is unlikely to have a material impact on REC's financials or share price. However, it signals continued project pipeline activity under the government's transmission expansion plans.