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.
REC Limited, via its wholly-owned subsidiary RECPDCL, has sold and transferred two power transmission SPVs to unrelated third parties through a tariff-based competitive bidding process. Hampapura Power Transmission Limited was sold to Resonia Limited for ₹8.60 crore and Mekhali Power Transmission Limited was sold to Dilip Buildcon Limited for ₹8.06 crore, both inclusive of taxes and professional fees. Both transactions were completed on May 30, 2026, with shares transferred at par value along with all assets and liabilities. According to Annexure-1, the contribution of both subsidiaries to REC Limited's turnover and net worth was negligible. The buyers are not part of the promoter or promoter group, and the transactions are not classified as slump sales or related party transactions.
Given that the SPVs contributed negligibly to REC Limited's revenue and net worth, the financial impact on the parent company is minimal. The divestiture aligns with REC's strategy of transferring project-specific SPVs post-tariff bidding completion and is unlikely to materially affect the stock price.