REC incorporates step-down subsidiary for Ambernath transmission project

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

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₹339.00

prior close

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announcement price

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Nifty 100market · index membership as recorded later (tracked since Jun 2026)+0.8%+0.5% vs market

Financial Institution peers, median of 7sector+1.5%-0.2% vs sector

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AI summary

REC Limited announces incorporation of Ambernath Power Transmission Limited as a wholly owned step-down subsidiary through RECPDCL. The entity is set up as a Special Purpose Vehicle for the 400/220 kV GIS Ambernath transmission project in Thane district, allocated by the Government of Maharashtra. After selection of the successful bidder under tariff-based competitive bidding, the company will be transferred along with all assets and liabilities. Paid-up capital is about Rs 5 lakh, fully subscribed in cash at face value. The entity is a related party since RECPDCL is a wholly owned subsidiary of REC.

Likely market impact

Routine procedural step for REC's BPC role in TBCB transmission bidding; no material financial impact on shareholders at this stage.