REC Limited has informed the Exchange regarding Outcome of Board Meeting held on Jun 04, 2025.
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REC Limited's Board met on June 4, 2025 and approved two key proposals. First, the Board approved raising up to ₹1,55,000 crore (₹1.55 lakh crore) through private placement of unsecured/secured non-convertible bonds or debentures, subject to shareholder approval at the upcoming AGM. The funds will be raised in one or more tranches over a period of one year from the date of shareholder resolution. Second, the Board approved striking off Rajgarh III Power Transmission Limited, a wholly owned subsidiary of RECPDCL, which is in turn a wholly owned subsidiary of REC. This SPV was originally created for a transmission project in Madhya Pradesh, but the Ministry of Power de-notified the project on March 18, 2025 after the NCT recommended clubbing it with another transmission project, making the SPV redundant.
The ₹1.55 lakh crore fundraising plan underscores REC's significant lending growth ambitions as a Maharatna PSU, though it expands the company's debt footprint and is pending shareholder approval. The SPV strike-off is a routine corporate cleanup with no material financial impact on REC's consolidated numbers.