REC Subsidiary Sale: RECPDCL Sells Stake in Jalna Power Transmission Limited for Approximately ₹3.21 Crore
REC Limited's subsidiary, RECPDCL (REC Power Development and Consultancy Limited), has completed the sale of its entire holding in a project-specific entity, Jalna Power Transmission Limited. The shares were transferred to Maharashtra State Electricity Transmission Company Limited through a competitive bidding process, effective June 12, 2026.RECPDCL successfully sold all 50,000 equity shares of Jalna Power Transmission Limited to the winning bidder, stating that the transfer was completed at par value along with all associated assets and liabilities. The transaction concludes the subsidiary's ownership by both RECPDCL and REC Limited.
The sale, which was conducted not as a slump sale but according to guidelines set by the Ministry of Power, resulted in the acquisition of the shares by Maharashtra State Electricity Transmission Company Limited, a bidder that does not belong to any promoter or promoter group.
Key details regarding the sale and transfer are provided below:
| Particulars | Details |
|---|---|
| Project Subsidiary Sold | Jalna Power Transmission Limited |
| Selling Entity | RECPDCL (A wholly owned subsidiary of REC Limited) |
| Date of Agreement Execution | June 12, 2026 |
| Successful Bidder Name | Maharashtra State Electricity Transmission Company Limited |
| Total Consideration Received | Approximately ₹3,21,57,839/- (including taxes and professional fees) |
| Shareholding Transferred | 50,000 equity shares |
The transaction was executed via a Share Purchase Agreement (SPA) signed between RECPDCL and the successful bidder on June 12, 2026. The sale encompassed all assets and liabilities of Jalna Power Transmission Limited as part of the transfer. Following this acquisition, the project specific subsidiary is no longer reported as a part of REC Limited or RECPDCL's structure.
RECLTD Stock Price Movement
Today, shares of REC Limited edged higher to close at ₹348.05 after gaining 3.13%. The stock saw strong investor interest, trading at a volume of 2.63 million shares today.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.