REC Ltd Sells Two Subsidiaries for ₹18.82 Cr
REC Ltd, through its wholly-owned subsidiary REC Power Development and Consultancy Limited (RECPDCL), has divested its entire shareholding in two project-specific Special Purpose Vehicles (SPVs): Jam Khambhaliya Jamnagar Power Transmission Limited and Lakadia II Power Transmission Limited. The sale, completed on October 12, 2026, involved the transfer of all assets and liabilities to the successful bidders, Ceigall India Limited and Power Grid Corporation of India Limited, respectively. The total consideration received amounts to ₹18,83,98,174 (₹18.84 Crore) for Jam Khambhaliya Jamnagar Power Transmission Limited and ₹18,42,62,593 (₹18.43 Crore) for Lakadia II Power Transmission Limited. These SPVs are no longer subsidiaries of RECPDCL or REC Ltd. The transactions were conducted through a tariff-based competitive bidding process and did not fall within related party transactions or the nature of a slump sale.
Key Highlights
- REC Ltd divested two project-specific subsidiaries.
- Total consideration received is approximately ₹37.26 Crore.
- Sale completed on October 12, 2026.
- Subsidiaries transferred along with assets and liabilities.
- Transaction was part of a tariff-based competitive bidding process.
Price Impact
More from RECLTD