REC Subsidiary Sales: Power Grid and Terralight Secure Two Key Transmission Businesses
RECPDCL, a wholly owned subsidiary of REC Limited, has completed the transfer of shares for two project specific subsidiaries following a tariff based competitive bidding process. The transaction saw the sale of entire shareholdings—comprising 50,000 equity shares of each entity—along with all associated assets and liabilities on July 29, 2026.
The sales involved Bhadla Ramgarh Power Transmission Limited and Shongtong Power Transmission Limited. The successful buyers for these businesses were identified during the competitive process.
Power Grid Corporation of India Limited acquired Bhadla Ramgarh Power Transmission Limited (BRPTL). For this acquisition, the consideration received was ~12,85,79,427/- (including taxes), which accounted for professional fees and expense reimbursement.
Similarly, Terralight Solar Energy Tinwari Private Limited secured Shongtong Power Transmission Limited (SPTL). The acquisition price for SPTL amounted to ~20,40,66,599/- (including taxes) and included professional fees and expenses reimbursement.
The details of the sale and transfer for both subsidiaries are summarized below:
| Particulars | Bhadla Ramgarh Power Transmission Limited | Shongtong Power Transmission Limited |
|---|---|---|
| Successful Bidder | Power Grid Corporation of India Limited | Terralight Solar Energy Tinwari Private Limited |
| Date of Agreement (SPA) | July 29, 2026 | July 29, 2026 |
| Consideration Received | ~12,85,79,427/- (including taxes) | ~20,40,66,599/- (including taxes) |
| Buyer Status | Does not belong to Promoter or Promoter group. | Does not belong to Promoter or Promoter group. |
The sale of Bhadla Ramgarh Power Transmission Limited was determined in accordance with guidelines issued by the Ministry of Power, Government of India, and is not considered a slump sale. The transaction also did not fall under related party dealings.
For Shongtong Power Transmission Limited, the consideration for the sale and transfer was similarly determined based on guidelines from the Ministry of Power, Government of India, and this proposal was not classified as a slump sale.
With the completion of these sales, both project specific entities are no longer considered subsidiaries of RECPDCL and REC Limited.
RECLTD Stock Price Movement
Today, shares of REC Limited climbed after market close, finishing up at ₹374.25, marking a 1.61% gain in trading. The equity demonstrated strong investor interest throughout the day, completing the session with a total traded volume of 6.30 million shares.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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