REC informs incorporation of new subsidiary for transmission project

RECLTD · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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₹352.65

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₹349.10

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AI summary

REC Limited has informed that Nawada Durgapur Power Transmission Limited has been incorporated as a Wholly Owned Subsidiary of REC Power Development and Consultancy Limited (RECPDCL), which is REC's own WOS. The subsidiary was set up for the ERES-47 Nawada-Durgapur-Jeerat 765kV corridor transmission project, allocated by the Ministry of Power. RECPDCL acts as Bid Process Coordinator under the TBCB framework. After bidder selection, the SPV will be transferred to the successful bidder. Paid-up capital is Rs 5 lakh.

Likely market impact

Routine SPV incorporation under standard TBCB process for a transmission project. No material financial impact for REC shareholders at this stage.