Announced Tue, 14 Jul · 19:46 IST
REC incorporates step-down subsidiary for Satara transmission project
Strategic Transactions View source PDF
RECLTD · price
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Price reaction · full curve 14 horizons · vs prior close
-0.8%1-day move
₹352.35
prior close
₹354.00
base price
After-mkt
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AI summary
REC's wholly-owned subsidiary RECPDCL has set up a new step-down subsidiary named Kesurdi Power Transmission Limited on July 14, 2026. The company has paid-up capital of Rs 5 lakh and was incorporated to establish a 220 kV GIS transmission project in Satara district, Maharashtra, allocated by the state government. RECPDCL is acting as Bid Process Coordinator under tariff-based competitive bidding guidelines. The SPV will later be transferred to the successful bidder.
Likely market impact
Routine SPV incorporation for a transmission bid. The entity will be transferred to the winning bidder, so limited long-term impact on REC.