Date: October 6, 2026
KMP / Board / Auditor Changes
Not Specified
Dividend Declaration or Non-Declaration
Not Specified
Board Meeting Outcomes
Not Specified
Financial Results
Not Specified
Auditor’s Report
Not Specified
Disinvestment / Strategic Actions
REC Limited incorporated three new wholly owned subsidiary companies through its subsidiary REC Power Development and Consultancy Limited (RECPDCL).
Other Operational / Legal / Strategic Disclosures
Subsidiary Incorporation Details
- Bikaner V Part A Power Transmission Limited (CIN: U42202DL2026G0I471297)
- Bikaner V Part B Power Transmission Limited (CIN: U42202DL2026G0I471295)
- Mirzapur Power Transmission Limited (CIN: U42202DL2026G0I471294)
These companies are subsidiary companies of REC Limited in terms of Section 2(87) of the Companies Act, 2013.
Company Financial Details
Each subsidiary has:
- Authorized Capital: ₹5,00,000
- Paid-up Capital: ₹5,00,000
- Turnover: Not Applicable (newly incorporated companies yet to commence business)
Project Background and Purpose
Bikaner V Part A & Part B Power Transmission Limited:
- Incorporated pursuant to Gazette Notification dated June 19, 2026 issued by Ministry of Power, Government of India
- RECPDCL appointed as Bid Process Coordinator (BPC) for transmission scheme for evacuation of power as part of Rajasthan REZ Ph-IV (Part-6: 6GW) (Bikaner Complex) (Bikaner V: 6GW)
- Part A covers Part A of the project
- Part B covers Part B of the project
Mirzapur Power Transmission Limited:
- Incorporated pursuant to Letter dated August 10, 2026 issued by U.P. Power Transmission Corporation Limited
- RECPDCL appointed as Bid Process Coordinator (BPC) for Construction of 765 kV & 400 kV lines associated with 765/400 kV Mirzapur Pooling (AIS) Substation
- Incorporated on October 5, 2026
Transfer Process
After selection of successful bidder in accordance with Tariff Based Competitive Bidding (TBCB) guidelines, each company will be transferred to the successful bidder along with all assets & liabilities.
Related Party Transaction
- The subsidiaries are related parties of REC Limited
- The promoter, promoter group/group companies do not have any interest in these subsidiaries except to the extent of shareholding
- Transactions are conducted at arm's length
Industry Classification
All three subsidiaries belong to the Power Sector.
Consideration and Acquisition Details
- Nature of consideration: 100% subscription to the equity share capital in cash
- Cost of acquisition: 100% subscription to the equity share at face value
- Percentage of shareholding acquired: 100%
Background of Acquiring Entity
RECPDCL inter-alia acts as the "BPC" for selection of Transmission Service Provider through TBCB process, for independent inter-state and intra-state transmission project assigned by the Ministry of Power and State Governments from time to time.