Intimation of incorporation of subsidiary company.
RECLTD · price
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REC Limited has informed the exchanges that Jalna Power Transmission Limited has been incorporated as a wholly owned subsidiary of REC Power Development and Consultancy Limited (RECPDCL), which is itself a wholly owned subsidiary of REC. The new entity was incorporated on June 29, 2025, with an authorized and paid-up capital of ₹5 lakh each. The company has been set up to execute the 400/132 kV Jalna intra-state transmission project, which was allocated by the Government of Maharashtra to RECPDCL as the Bid Process Coordinator (BPC) via an order dated April 9, 2025. This is a standard Special Purpose Vehicle (SPV) created under the Tariff Based Competitive Bidding (TBCB) process, and once the successful bidder is selected, the SPV along with all assets and liabilities will be transferred to them.
This is a routine operational activity for RECPDCL's BPC business and is not financially material given the nominal capital. The development signals RECPDCL's continued role in winning power transmission BPC mandates but is unlikely to have any meaningful impact on REC's stock price or shareholder value.