REC Limited's Subsidiary Sells Project to Tata Power Company Limited for INR 86,62,034
REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, has completed the sale and transfer of its project specific entity, Ryapte Power Transmission Limited. The transaction was finalized on July 30, 2026, involving the complete divestment of the unit to The Tata Power Company Limited.The sale involved the entire shareholding in Ryapte Power Transmission Limited, comprising 50,000 equity shares. These shares, along with all associated assets and liabilities, were transferred to the successful bidder following a tariff based competitive bidding process.
According to details provided regarding the transfer of the subsidiary, the transaction was executed through a Share Purchase Agreement (SPA) signed between RECPDCL and The Tata Power Company Limited on July 30, 2026. The consideration for the acquisition amounted to INR 86,62,034. This amount includes professional fees and reimbursement of expenses.
The successful bidder in the transaction was identified as The Tata Power Company Limited. It is confirmed that the buyer belongs to a group that does not fall within the Promoter or Promoter group.
The sale process ensured that the transaction remained outside the purview of related party transactions and was determined according to Guidelines issued by the Ministry of Power, Government of India. Furthermore, it was established that the disposal of Ryapte Power Transmission Limited did not constitute a slump sale.
Key details of the subsidiary sale are summarized below:
| Parameter | Details |
|---|---|
| Date of Agreement Execution | July 30, 2026 |
| Consideration Received | INR 86,62,034 (including taxes) |
| Buyer's Name | The Tata Power Company Limited |
| Seller | RECPDCL |
| Nature of Sale | Not a slump sale |
RECLTD Stock Price Movement
Today, REC Limited shares edged higher to settle at ₹374.90 after closing today, advancing by 0.23%. The stock saw strong movement within the session, trading between a low of ₹371.15 and a high of ₹377.25.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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