Divestment28 Sept 2026, 05:20 pm
REC Sells Balsane Power Transmission SPV for ₹5.59 Cr
AI Summary
REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Ltd, has completed the sale and transfer of its entire shareholding in Balsane Power Transmission Limited for a consideration of ₹5,59,19,024. The transaction, which includes all assets and liabilities of the SPV, was finalized on September 28, 2026, with Resonia Limited emerging as the successful bidder. The buyer is not part of REC's promoter group. The sale is not considered a slump sale, and the consideration was determined as per Ministry of Power guidelines. The contributed turnover and net worth of Balsane Power Transmission Limited were negligible.
Key Highlights
- REC subsidiary sold Balsane Power Transmission SPV.
- Sale consideration amounts to ₹5.59 Crore.
- Transaction completed on September 28, 2026.
- Buyer is Resonia Limited, not a related party.
- SPV's financial contribution was negligible.
Price Impact
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