Intimation of sale and transfer of project specific SPV/ Subsidiary.
RECLTD · price
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REC Limited, through its wholly-owned subsidiary REC Power Development and Consultancy Limited (RECPDCL), has sold its entire 50,000 equity shareholding in Bellary Davanagere Power Transmission Limited to Power Grid Corporation of India Limited (PGCIL). The transfer was made at par value along with all assets and liabilities on February 12, 2026, through a tariff-based competitive bidding process as per Ministry of Power guidelines. Total consideration received was approximately ₹13.02 crore, including taxes, professional fees, and reimbursement of expenses. The subsidiary had a negligible contribution to REC's turnover and net worth in the last financial year. With this completion, Bellary Davanagere Power Transmission is no longer a subsidiary of RECPDCL or REC Limited.
This is a routine divestiture of a project-specific SPV with negligible revenue contribution, so it has minimal financial impact on REC Limited. Shareholders should not expect any material change in the company's earnings or business profile from this transaction.