Joint Venture17 Oct 2025, 08:18 pm
REC Ltd Transfers Entire Shareholding of Two Subsidiaries to Successful Bidders
AI Summary
REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, has transferred the entire shareholding of two subsidiaries, Ananthapuram II Power Transmission Limited and SR WR Power Transmission Limited, to the successful bidders selected through a tariff-based competitive bidding process. The transfer took place on October 17, 2025, and the project specific SPVs/subsidiaries are no longer subsidiaries of RECPDCL & REC Limited.
Key Highlights
- Transfer of entire shareholding of two subsidiaries to successful bidders
- Transfer took place on October 17, 2025
- Project specific SPVs/subsidiaries are no longer subsidiaries of RECPDCL & REC Limited
- Transfer not in the nature of slump sale
- Consideration for sale & transfer of SPV determined as per Ministry of Power guidelines