REC Limited Transfers Entire Shareholding of Bellary Davanagere Power Transmission Limited to Power Grid Corporation of India Limited

REC Limited has transferred the entire shareholding of Bellary Davanagere Power Transmission Limited, a wholly owned subsidiary, to Power Grid Corporation of India Limited. The transfer includes all assets and liabilities of the SPV at a consideration of 213,02,26,267.00 (inclusive of taxes). This transaction does not fall under related party transactions and is not a slump sale. The consideration is determined in accordance with the Guidelines issued by the Ministry of Power, Government of India.