Date: July 29, 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 two project-specific subsidiaries. The transaction was executed on July 29, 2026, following a tariff-based competitive bidding process as per guidelines from the Ministry of Power, Government of India.
Details of Subsidiaries Sold:
1. Bhadla Ramgarh Power Transmission Limited
- Successful Bidder: Power Grid Corporation of India Limited
- Consideration Received: ₹12,85,79,427/- (including taxes). This amount is inclusive of professional fees and reimbursement of expenses.
- Number of Shares Transferred: 50,000 equity shares (entire shareholding).
- Buyer Classification: The successful bidder does not belong to the Promoter or Promoter group of REC Limited.
- Transaction Type: Not a slump sale. Not a related party transaction.
- Financial Contribution: The SPV's turnover/revenue/income and net worth contribution to REC Limited during the last financial year was negligible.
2. Shongtong Power Transmission Limited
- Successful Bidder: Terralight Solar Energy
- Consideration Received: ₹20,40,66,599/- (including taxes). This amount is inclusive of professional fees and reimbursement of expenses.
- Number of Shares Transferred: 50,000 equity shares (entire shareholding).
- Buyer Classification: The successful bidder does not belong to the Promoter or Promoter group of REC Limited.
- Transaction Type: Not a slump sale. Not a related party transaction.
Effective Date and Impact:
With effect from July 29, 2026, both Bhadla Ramgarh Power Transmission Limited and Shongtong Power Transmission Limited are no longer subsidiaries of RECPDCL and, consequently, REC Limited.
The Share Purchase Agreements (SPAs) for both transactions were executed between RECPDCL and the respective successful bidders on July 29, 2026, which also served as the effective date for the completion of the sale/disposal.
The consideration for the sale and transfer of both SPVs was determined in accordance with the guidelines issued by the Ministry of Power, Government of India.