REC Ltd

REC Ltd has announced the appointment of two new firms of Chartered Accountants as its Statutory Auditors for the financial year 2026-27. The appointments were made by the Comptroller and Auditor General (C&AG) of India. The appointed firms are M/s. G. S. Mathur & Co. and M/s. S. K. Mehta & Co., both based in New Delhi. These firms bring extensive experience in audit, tax advisory, and financial advisory services, serving a diverse clientele including listed and unlisted entities across various sectors. This appointment is a routine regulatory requirement for the company.

Life Insurance Corporation of India (LIC) has disclosed an increase in its shareholding in REC Ltd. The acquisition, made through market purchases, has raised LIC's stake from 4.993% to 5.031%. This disclosure is made under SEBI's Substantial Acquisition of Shares & Takeovers Regulations, 2011. The total number of shares held by LIC in REC Ltd now stands at 13,24,80,799, acquired through open market transactions.

REC Limited, a Maharatna CPSE under the Ministry of Power, has successfully issued India's first pilot issue of tokenized corporate bonds under the SEBI Regulatory Sandbox Framework. The pilot issue size was ₹500 Crore (₹100 Crore base + ₹400 Crore green shoe option), with a coupon rate of 7.30% per annum for a tenor of 1 year 9 months. The issue was oversubscribed by approximately 8x, receiving bids totaling ~₹796 Crore. This landmark issuance, supported by SEBI, RBI, and market institutions, introduces atomic Delivery-versus-Payment (DvP) settlement and shared-ledger transparency, enabling faster settlement on the same day. The bonds are listed on NSE and BSE.

REC Limited has been fined ₹10,77,340 by both the National Stock Exchange (NSE) and BSE Limited (BSE) for non-compliance with Listing Regulations concerning the composition of its Board of Directors and Committees. The non-compliance occurred during the quarter ended June 30, 2026. REC, being a Government Company, states that the appointment of Directors is vested with the President of India, acting through the Ministry of Power, and the company has no direct role in these appointments. The company has been consistently requesting its administrative ministry for the appointment of the requisite number of Independent Directors.

REC Ltd announced the incorporation of two new wholly owned subsidiary companies: Vikramshila Power Transmission Limited and Alkud II Power Transmission Limited. These subsidiaries were formed to undertake specific intra-state transmission projects allocated by the Governments of Bihar and Maharashtra, respectively. Both companies have an authorized and paid-up capital of ₹5,00,000 and are yet to commence business. They will be transferred to successful bidders selected through the Tariff Based Competitive Bidding (TBCB) process. These entities are considered related parties to REC Ltd.

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 Luhri Power Transmission Limited for a consideration of ₹12,611,898 (including taxes). The transaction, which includes all assets and liabilities of the SPV, was finalized on August 21, 2026, with the successful bidder, Terralight Solar Energy Tinwari Private Limited. The buyer is not associated with REC's promoters. The sale is not considered a related party transaction or a slump sale, and the consideration was determined as per Ministry of Power guidelines. The SPV is no longer a subsidiary of RECPDCL or REC Limited.

REC Power Development and Consultancy Limited (RECPDCL), a wholly-owned subsidiary of REC Limited, has completed the sale and transfer of its entire shareholding in Vizag Power Transmission Limited. The transaction, finalized on August 14, 2026, involved the transfer of 50,000 equity shares along with all assets and liabilities to Adani Energy Solutions Limited, the successful bidder. The consideration received amounts to ₹15,65,97,011, inclusive of taxes, professional fees, and expense reimbursements. This divestment means Vizag Power Transmission Limited is no longer a subsidiary of RECPDCL or REC Limited. The transaction was conducted through a tariff-based competitive bidding process and is not considered a related party transaction or a slump sale.

REC Limited has informed the stock exchanges about a change in its Senior Management, specifically within positions one level below the Board of Directors. The filing indicates that details regarding the reason for the change, the date of appointment, a brief profile of the individual, and any disclosed relationships between directors are being provided. This update pertains to the internal restructuring of key personnel within the company's senior leadership team.

REC Limited has announced a change in its Internal Auditor, effective August 1, 2026. Shri Sahab Narain will cease to be the Internal Auditor due to superannuation. Concurrently, Shri Mukul Agarwal has been appointed as the new Internal Auditor. Shri Agarwal is the General Manager (Finance & Accounts) at REC, a Member of the Institute of Cost Accountants of India, and holds a Bachelor's degree in Commerce. This change is in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

REC Ltd has announced its 57th Annual General Meeting (AGM) will be held on Tuesday, August 25, 2026, at 11:00 AM IST, conducted via Video Conferencing. The company has also released its Annual Report for the financial year 2025-26, which includes the Notice of the AGM. Shareholders can access the report online. The cut-off date for determining voting eligibility is August 18, 2026, with remote e-voting available from August 22 to August 24, 2026. The report also details key financial and operational highlights for FY26, including Net Profit of ₹16,282 crore, Net Worth of ₹84,290 crore, Sanctions of ₹4,09,097 crore, Renewable Loan Book of ₹75,347 crore, Loan Book of ₹5,83,659 crore, and Disbursements of ₹2,11,189 crore.