Date: September 28, 2026
Disinvestment / Strategic Actions
REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, has completed the sale and transfer of its entire shareholding in Balsane Power Transmission Limited, a project-specific special purpose vehicle (SPV).
- Entity Involved: Balsane Power Transmission Limited
- Stake Sold: 50,000 equity shares (100% ownership)
- Buyer: Resonia Limited, selected through a tariff-based competitive bidding process
- Transaction Date: September 28, 2026
- Consideration: ₹59,102,400 (inclusive of taxes, professional fees, and reimbursement of expenses)
- Strategic Rationale: The sale was conducted in accordance with guidelines issued by the Ministry of Power, Government of India
- Resulting Impact: With effect from September 28, 2026, Balsane Power Transmission Limited is no longer a subsidiary of RECPDCL or REC Limited
Financial Impact
- The turnover/revenue contribution from this subsidiary during the last financial year was negligible
- The transaction does not qualify as a slump sale
- The consideration was determined in accordance with Ministry of Power guidelines