Intimation of sale and transfer of project specific SPV / subsidiary.

Strategic Transactions View source PDF Explain this filing

RECLTD · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-0.1%Reaction day

₹372.40

prior close

₹370.50

announcement price

After-mkt

timing

Nifty 100market · index membership as recorded later (tracked since Jun 2026)-0.1%-0.1% vs market

Financial Institution peers, median of 7sector+1.0%-1.1% vs sector

On the reaction day the stock moved 0.1 pts less than Nifty 100 and 1.1 pts less than its Financial Institution peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.7

10m

+0.8

15m

+0.4

30m

+0.6

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-0.1-0.1-0.1+1.0-1.1

Next day

+1.6+0.7+0.8+2.2-0.7

+2.2+1.0+1.2+2.7-0.5

+1.5+1.7-0.2+1.5-0.0

+1.5+1.8-0.3+2.5-1.0

+0.1+1.5-1.4+0.2-0.1

+0.1+2.4-2.4+1.7-1.7

15d

+0.7+4.6-3.9+0.7-0.0

+1.7+4.8-3.0-0.2+2.0

-3.9+5.5-9.4-4.6+0.7

-5.5+4.6-10.1-8.0+2.4

UpDownMarket · Nifty 100Sector · Financial Institution peers, median of 7Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

REC Limited's wholly owned subsidiary REC Power Development and Consultancy Limited (RECPDCL) has sold its entire 50,000 equity shareholding in Rajgarh Neemuch Power Transmission Limited to GR Infra Projects Limited, the successful bidder under a tariff-based competitive bidding process. The transfer was completed on September 29, 2025, at par value, along with all assets and liabilities of the SPV. Total consideration received is a professional fee of ₹15 Crore plus reimbursement of expenses. The SPV's contribution to REC's turnover, revenue and net worth in the last financial year was negligible. The buyer does not belong to the promoter/promoter group, the transaction is not a related party deal, and it is not in the nature of a slump sale. With this sale, Rajgarh Neemuch Power Transmission Limited ceases to be a subsidiary of RECPDCL and REC Limited.

Likely market impact

Minimal financial impact on REC shareholders, as the divested SPV contributed negligibly to revenue and net worth, and the consideration of ₹15 Crore is small. This appears to be a routine exit from a project-specific transmission SPV after competitive bidding, consistent with REC's standard business model of sponsoring and divesting transmission projects.