REC Limited incorporates Wholly Owned Subsidiary Dharashiv Power Transmission Limited

REC Limited incorporates Wholly Owned Subsidiary Dharashiv Power Transmission Limited​

REC Limited has completed the incorporation of Dharashiv Power Transmission Limited, establishing it as a wholly owned subsidiary of REC Power Development and Consultancy Limited (RECPDCL), which in turn is a wholly owned subsidiary of REC Limited. The new company also qualifies as a subsidiary of REC Limited under Section 2(87) of the Companies Act, 2013.

Dharashiv Power Transmission Limited was incorporated on July 21, 2026.

Details of the Wholly Owned Subsidiary​

The incorporation is tied to an intra-state transmission project allocated by the Government of Maharashtra. This project involves the establishment of a 400 kV GIS Solapur/Paranda Switching Station in Dharashiv.

Key details regarding the new subsidiary include:

• Name: Dharashiv Power Transmission Limited
• Authorized Capital: Approximately ₹5,00,000
• Paid up Capital: Approximately ₹5,00,000
• Turnover: Not Applicable, as it is a newly incorporated company yet to commence business.
• Incorporation Date: July 21, 2026

Government of Maharashtra allocated the project via a Gazette Notification dated February 27, 2026, under which RECPDCL was appointed as the Bid Process Coordinator (BPC) for establishing the switching station. Following the selection of a successful bidder through the Tariff Based Competitive Bidding (TBCB) guidelines, Dharashiv Power Transmission Limited will be transferred to that successful bidder along with all associated assets and liabilities.

Strategic Context and Shareholding​

The subsidiary operates in the Power Sector, and its establishment relates to the project for the 400 kV GIS Solapur/Paranda Switching Station (Dist. - Dharashiv).

As a wholly owned entity of RECPDCL, Dharashiv Power Transmission Limited is considered a related party to REC Limited. The promoter group or any group companies hold no interest in Dharashiv Power Transmission Limited apart from the extent of the shareholding held by the parent company.

The investment structure involved 100% subscription to the equity share capital in cash, and the cost of acquisition was 100% subscription to the equity at face value, resulting in 100% control being acquired.

Business Background​

RECPDCL serves as a BPC for selecting Transmission Service Providers through TBCB processes for various independent inter-state and intra-state transmission projects assigned by State Governments and the Ministry of Power. Dharashiv Power Transmission Limited is incorporated specifically for the purpose of establishing the 400 kV GIS Solapur/Paranda Switching Station in Dharashiv.

RECLTD Stock Price Movement​

Shares of REC Limited slipped today by 0.47% to settle at ₹362.05. The equity saw a total traded volume of 3.43 million shares during the session.