Announced Tue, 21 Jul · 19:57 IST
REC incorporates WOS subsidiary for Maharashtra transmission project
Strategic Transactions View source PDF
RECLTD · price
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Price reaction · full curve 14 horizons · vs prior close
-1.0%1-day move
₹361.75
prior close
₹360.30
base price
After-mkt
timing
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+0.3+0.1-0.2-0.6-1.0-0.2+1.9———————
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AI summary
REC Limited has incorporated Dharashiv Power Transmission Limited as a wholly owned subsidiary via RECPDCL. The SPV was set up for the 400 kV GIS Solapur/Paranda Switching Station project in Maharashtra, for which RECPDCL is the Bid Process Coordinator. The SPV will be transferred to the successful bidder under TBCB norms. Paid-up capital is about Rs 5 lakh.
Likely market impact
Routine SPV incorporation for a transmission project; no direct material impact on REC financials. SPV will be handed to the winning bidder.