Intimation of sale and transfer of Project specific SPVs/Subsidiaries.
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's wholly owned subsidiary RECPDCL has sold and transferred two project-specific power transmission SPVs to successful bidders identified through a tariff-based competitive bidding process under Ministry of Power guidelines. Velgaon Power Transmission Limited has been transferred to Ceigall India Limited, and Jejuri Hinjewadi Power Transmission Limited has been transferred to The Tata Power Company Limited, effective January 9, 2026. The consideration includes professional fees of approximately ₹1.07 crore (Velgaon) and ₹1.57 crore (Jejuri Hinjewadi), along with reimbursement of expenses. Both subsidiaries contributed negligibly to REC's turnover, revenue, and net worth. The buyers are not part of REC's promoter group, and the transactions are neither slump sales nor related party transactions.
This is a routine transfer of project-specific SPVs to winning bidders in transmission tenders, with negligible financial impact on REC Limited. Shareholders are unlikely to see any material effect on the stock price or company earnings.