REC Limited has informed the incorporation of three subsidiary companies.
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REC Limited has informed the stock exchanges that three new wholly owned subsidiary companies have been incorporated through its wholly owned subsidiary REC Power Development and Consultancy Limited (RECPDCL). The three entities are: Hampapura Power Transmission Limited, Sharavathi Power Transmission Limited, and Ryapte Power Transmission Limited. Each company has an authorized and paid-up capital of ₹5,00,000, and all are in the power sector. These subsidiaries were created as Special Purpose Vehicles (SPVs) following an order from the Energy Department of Government of Karnataka dated March 4, 2025, which assigned RECPDCL as the Bid Process Coordinator (BPC) for three intra-state transmission projects: a 400 KV substation at Hampapura, an evacuation scheme for a 2000 MW Pumped Storage Plant at Sharavathi, and an evacuation scheme for a 2000 MW solar park at Ryapte Village in Karnataka. After selection of successful bidders through the Tariff Based Competitive Bidding (TBCB) process, these SPVs will be transferred to the winning bidders along with all assets and liabilities.
This is a routine operational disclosure related to REC's power transmission consultancy business and is not expected to materially impact the stock price. It reflects continued business activity in RECPDCL's role as a Bid Process Coordinator for transmission projects in Karnataka. Shareholders should note these are temporary SPVs that will eventually be divested to successful bidders through competitive bidding.