Intimation of sale and transfer of project specific SPV/Subsidiary.
RECLTD · price
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REC Limited's wholly owned subsidiary RECPDCL has sold its entire 50,000 equity shareholding in Balsane Power Transmission Limited to Resonia Limited, the successful bidder under a tariff-based competitive bidding process. The share purchase agreement was executed and the transfer was completed on September 28, 2026, with consideration of approximately ₹5.59 crore (including taxes, professional fees, and expense reimbursements). With this transfer, Balsane Power Transmission Limited is no longer a subsidiary of RECPDCL or REC Limited. The contribution of this SPV to REC's turnover, revenue, and net worth is stated as negligible, and the buyer does not belong to REC's promoter group.
Minimal impact on shareholders — the SPV contributed negligibly to REC's financials, and this is a standard transfer of a project-specific subsidiary in the power transmission sector. No material effect expected on the stock price.