Date: June 12, 2026
Disinvestment / Strategic Actions
REC Limited, through its wholly-owned subsidiary REC Power Development and Consultancy Limited (RECPDCL), has completed the sale and transfer of its entire shareholding in Jalna Power Transmission Limited.
Transaction Details:
- Name of Entity Sold: Jalna Power Transmission Limited
- Number of Shares Sold: 50,000 equity shares
- Buyer: Maharashtra State Electricity Transmission Company Limited (MSETCL)
- Transaction Date: June 12, 2026
- Consideration: ₹3,21,57,839 (inclusive of taxes, professional fee, and reimbursement of expenses)
- Transfer Value: At par value along with all assets and liabilities
- Selection Process: Tariff-based competitive bidding process
Relationship Status:
- With effect from June 12, 2026, Jalna Power Transmission Limited is no longer a subsidiary of RECPDCL or REC Limited
- The buyer (MSETCL) does not belong to the Promoter or Promoter group of REC Limited
Transaction Characteristics:
- The transaction does not fall within the purview of related party transactions
- The sale is not in the nature of a slump sale
- The consideration was determined in accordance with guidelines issued by the Ministry of Power, Government of India
- The Share Purchase Agreement was executed between RECPDCL and the successful bidder on June 12, 2026
Regulatory Compliance:
- The intimation is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- The transaction does not constitute a Scheme of Arrangement