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

REC Power Development and Consultancy Limited, a wholly owned subsidiary of REC Limited, has transferred the entire shareholding of Davanagere Power Transmission Limited to Power Grid Corporation of India Limited. The transfer includes all assets and liabilities of the SPV. The Share Purchase Agreement was executed on 24.09.2025. The consideration comprises a professional fee of 75 Crore and reimbursement of expenses. Power Grid Corporation of India Limited does not belong to the Promoter and Promoter group. The transaction is not a related party transaction, nor is it in the nature of Slump Sale.