The three incorporated companies are:

1. Bikaner V Part D Power Transmission Limited (CIN: U42202DL2026GOI471850)

2. Bikaner V Part C Power Transmission Limited (CIN: U42202DL2026GOI471854)

3. YEIDA Power Transmission Limited (CIN: U42202DL2026GOI471859)

Details of the Subsidiaries

Capital Structure: Each of the three companies has an authorized capital of ₹5,00,000 and a paid-up capital of ₹5,00,000.

Business Commencement: All three are newly incorporated companies and are yet to commence business operations. Their current turnover is not applicable.

Industry: All entities belong to the Power sector.

Purpose and Rationale for Incorporation

Each company was incorporated for a specific power transmission project assigned by regulatory authorities:

  • Bikaner V Part D & Part C Power Transmission Limited: These were incorporated for the "Transmission scheme for evacuation of power as part of Rajasthan REZ Ph-IV (Part-6: 6GW) (Bikaner Complex) (Bikaner V: 6GW)". This follows a Gazette Notification dated June 19, 2026, issued by the Ministry of Power, Government of India, which appointed RECPDCL as the Bid Process Coordinator (BPC) for these interstate transmission projects.
  • YEIDA Power Transmission Limited: This was incorporated for the "Construction of 400/220 kV, 3x500 MVA GIS substation at Sector-28 Yeida (Gautambudh Nagar) with associated lines/bays". This follows a letter dated August 10, 2026, issued by U.P. Power Transmission Corporation Limited, which appointed RECPDCL as the Bid Process Coordinator (BPC) for this intrastate transmission project.

Acquisition Details and Transaction

Date of Acquisition/Incorporation: All three companies were incorporated on October 23, 2026.

Nature of Consideration: 100% subscription to the equity share capital was made in cash.

Cost of Acquisition: The shares were acquired at face value.

Shareholding Acquired: RECPDCL acquired a 100% shareholding in each company.

Future Plan: After the selection of a successful bidder in accordance with the Tariff Based Competitive Bidding (TBCB) guidelines, each company, along with all its assets and liabilities, will be transferred to that bidder.

Related Party Transaction

As wholly owned subsidiaries of RECPDCL (a REC subsidiary), all three newly incorporated companies are related parties of REC Limited. The promoter, promoter group, and other group companies have no interest in these entities beyond REC's shareholding.

Regulatory Approvals

The incorporations were effected pursuant to the aforementioned Gazette Notification from the Ministry of Power (for the Bikaner entities) and the letter from U.P. Power Transmission Corporation Limited (for the YEIDA entity), which nominated RECPDCL as the BPC.

Background on the Acquiring Entity (RECPDCL)

REC Power Development and Consultancy Limited (RECPDCL) acts as the Bid Process Coordinator (BPC) for the selection of Transmission Service Providers through the Tariff Based Competitive Bidding (TBCB) process. It is assigned this role for independent inter-state and intra-state transmission projects by the Ministry of Power and State Governments.