Deals25 Mar 2025, 01:44 am
REC Ltd Subsidiaries Transferred to Successful Bidders
AI Summary
REC Ltd has transferred the entire shareholding of four subsidiaries to successful bidders selected through a tariff-based competitive bidding process. The transfer took place on March 24, 2025, and the project-specific SPVs/subsidiaries are no longer subsidiaries of REC or RECPDCL. The consideration for the sale includes professional fees and reimbursement of expenses.
Key Highlights
- REC Ltd transfers subsidiaries to successful bidders
- Transfer completed on March 24, 2025
- Project-specific SPVs/subsidiaries no longer under REC or RECPDCL
- Consideration includes professional fees and reimbursement of expenses
- Bidders do not belong to the promoter/promoter group