REC Limited, through its wholly owned subsidiary REC Power Development and Consultancy Limited (RECPDCL), has completed the sale and transfer of Jalna Power Transmission Limited. The entire shareholding of 50,000 equity shares held by RECPDCL was transferred at par value along with all associated assets and liabilities on June 12, 2026.
Jalna Power Transmission Limited has been transferred to Maharashtra State Electricity Transmission Company Limited, which emerged as the successful bidder selected through a tariff-based competitive bidding process. The Share Purchase Agreement for the transaction was executed between RECPDCL and the successful bidder on the same date. With effect from the aforesaid date, Jalna Power Transmission Limited is no longer a subsidiary of RECPDCL or REC Limited.
The total consideration received for the transaction is Rs 3.22 crore, inclusive of taxes, professional fees, and reimbursement of expenses incurred. The consideration was determined in accordance with the guidelines issued by the Ministry of Power, Government of India from time to time.
The transaction does not fall within the purview of related party transactions and is not in the nature of a slump sale. The buyer, Maharashtra State Electricity Transmission Company Limited, does not belong to the promoter or promoter group of REC Limited.
The contribution of the project-specific SPV to the turnover and net worth of REC Limited during the last financial year was negligible. The information was disclosed to the stock exchanges in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.