Date: July 14, 2026
Subsidiary Incorporation Details
REC Limited announced the incorporation of Kesurdi Power Transmission Limited (CIN: U42202DL2026GOI468443) as a Wholly Owned Subsidiary of REC Power Development and Consultancy Limited (RECPDCL), which is itself a Wholly Owned Subsidiary of REC Limited. The incorporation was completed on July 14, 2026.
Project Background and Purpose
The subsidiary was incorporated specifically for the "Establishment of 220 kV GIS Kesurdi (Dist. Satara)" transmission project. This follows a Gazette Notification dated February 27, 2026, issued by the Government of Maharashtra, which allocated this intra-state transmission project and appointed RECPDCL as the Bid Process Coordinator (BPC).
Future Transfer Arrangement
After selection of the successful bidder in accordance with the Tariff Based Competitive Bidding (TBCB) guidelines, Kesurdi Power Transmission Limited will be transferred to the successful bidder along with all assets & liabilities.
Transaction Details
- Acquisition Type: 100% subscription to equity share capital in cash
- Cost of Acquisition: 100% subscription at face value
- Percentage of Shareholding: 100%
- Related Party Status: Yes, as it is a Wholly Owned Subsidiary of RECPDCL
- Arm's Length: The promoter, promoter group/group companies have no interest except through shareholding
RECPDCL Background
RECPDCL inter-alia acts as the "Bid Process Coordinator" for selection of Transmission Service Provider through TBCB process, for independent inter-state and intra-state transmission projects assigned by the Ministry of Power and State Governments.