REC Limited filed a regulatory disclosure pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, intimating the incorporation of a new subsidiary company.

Dharashiv Power Transmission Limited (CIN: U42202DL2026GOI468696) has been incorporated as a Wholly Owned Subsidiary of REC Power Development and Consultancy Limited (RECPDCL), which is itself a Wholly Owned Subsidiary of REC Limited. Consequently, Dharashiv Power Transmission Limited also qualifies as a subsidiary company of REC Limited under Section 2(87) of the Companies Act, 2013.

Key Details of the Subsidiary

  • Date of Incorporation: July 21, 2026
  • Authorized Capital: ₹5,00,000
  • Paid-up Capital: ₹5,00,000
  • Turnover: Not applicable (newly incorporated company yet to commence business)
  • Industry: Power Sector

Purpose and Background

The subsidiary was incorporated specifically for the "Establishment of 400 kV GIS Solapur/Paranda Switching Station" in Dharashiv District, Maharashtra. This incorporation follows a Gazette Notification dated February 27, 2026, issued by the Government of Maharashtra, which allocated this intra-state transmission project. RECPDCL has been appointed as the Bid Process Coordinator (BPC) for this project.

Ownership and Transaction Details

  • Percentage of shareholding acquired: 100%
  • Nature of consideration: 100% subscription to equity share capital in cash
  • Cost of acquisition: Subscription at face value (₹5,00,000)
  • Related party status: The acquisition falls under related party transactions since Dharashiv Power Transmission is a wholly owned subsidiary of RECPDCL, which is wholly owned by REC Limited.
  • Promoter interest: The promoter, promoter group, and group companies have no interest in Dharashiv Power Transmission Limited beyond REC's shareholding through RECPDCL.

Future Plans

After the selection of a successful bidder through the Tariff Based Competitive Bidding (TBCB) process as per guidelines, Dharashiv Power Transmission Limited will be transferred to the successful bidder along with all its assets and liabilities.

Governance

The disclosure was signed by Dinesh Garg, Company Secretary & Compliance Officer of REC Limited, on July 21, 2026.