REC Subsidiary Completes Transfer of Project SPVs to Bidders
REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, successfully transferred the entire shareholding of two project-specific subsidiaries on May 30, 2026. The transaction involved the sale of 50,000 equity shares of each subsidiary.The transfer was completed to successful bidders selected through a tariff-based competitive bidding process. According to the details provided, RECPDCL divested its interests in Hampapura Power Transmission Limited and Mekhali Power Transmission Limited.
The sale of the subsidiaries’ shareholding, along with all their respective assets and liabilities, was finalized on May 30, 2026. Both successful bidders—Resonia Limited and Dilip Buildcon Limited—are noted as not belonging to the Promoter or Promoter group.
A detailed summary of the sale and acquisition information for both entities is provided below:
| Particulars | Hampapura Power Transmission Limited | Mekhali Power Transmission Limited |
|---|---|---|
| Successful Bidder | Resonia Limited | Dilip Buildcon Limited |
| Consideration Received | ₹ 8,60,77,476/- (including taxes) | ₹ 8,05,99,524/- (including taxes) |
| Sale Date (SPA Executed) | May 30, 2026 | May 30, 2026 |
| Transaction Nature | Acquisition price inclusive of professional fee and reimbursement of expenses. Not considered a related party transaction. | Acquisition price inclusive of professional fee and reimbursement of expenses. Not considered a related party transaction. |
Following this transfer, Hampapura Power Transmission Limited and Mekhali Power Transmission Limited are no longer considered subsidiaries of RECPDCL or REC Limited.
RECLTD Stock Price Movement
REC Limited shares slipped by 0.74% on Friday, settling at ₹337.65 in the equity market. The stock saw participation of 10.27 million shares, indicating notable trading interest during the session.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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