REC Ltd has incorporated a new wholly owned subsidiary, Kesurdi Power Transmission Limited, to facilitate the establishment of a 220 kV Gas Insulated Switchgear (GIS) project in Kesurdi, Satara. The incorporation, effective July 14, 2026, follows a Gazette Notification dated February 27, 2026, from the Government of Maharashtra which allocated the intra-state transmission project. REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Ltd, was appointed as the Bid Process Coordinator (BPC) for this initiative.

Kesurdi Power Transmission Limited has been incorporated with an authorized capital and paid-up capital of ₹5,00,000. As a newly incorporated entity, the company has yet to commence business operations, and its turnover is currently not applicable. The subsidiary falls under the power sector and is classified as a related party of REC Ltd due to its ownership structure, though the promoter group holds no interest beyond the shareholding.

The primary objective of the acquisition is to execute the establishment of the 220 kV GIS Kesurdi project. The incorporation was pursued pursuant to the Maharashtra government's notification, which nominated RECPDCL to act as the BPC for selecting a Transmission Service Provider through the Tariff Based Competitive Bidding (TBCB) guidelines.

The consideration for the acquisition involved a 100% subscription to the equity share capital in cash at face value. Consequently, REC Ltd, through RECPDCL, has acquired 100% shareholding and control over the new entity. RECPDCL functions as the BPC for selecting transmission service providers for independent inter-state and intra-state transmission projects assigned by the Ministry of Power and various State Governments.

Following the selection of the successful bidder under the TBCB guidelines, Kesurdi Power Transmission Limited is slated to be transferred to the successful bidder along with all its assets and liabilities. The intimation was made to the exchanges pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Details of Kesurdi Power Transmission Limited

REC Limited has incorporated Nawada Durgapur Power Transmission Limited as a wholly owned subsidiary of REC Power Development and Consultancy Limited. The new entity, incorporated on July 10, 2026, will operate within the power sector and is classified as a related party of REC Limited. The subsidiary was established to facilitate the ERES-47: Nawada – Durgapur – Jeerat (New) 765kV corridor project, which was allocated by the Ministry of Power, Government of India via a Gazette Notification dated March 24, 2026.

REC Power Development and Consultancy Limited has been appointed as the Bid Process Coordinator for this inter-state transmission project. Following the selection of a successful bidder through Tariff Based Competitive Bidding guidelines, the subsidiary will be transferred to the winning bidder along with all its assets and liabilities. The promoter, promoter group, and group companies of REC Limited hold no interest in the new entity other than their shareholding extent.

The incorporation was disclosed to the exchanges pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The authorized and paid-up capital of Nawada Durgapur Power Transmission Limited stands at ₹5,00,000. As the company is newly incorporated and yet to commence business, its turnover is currently not applicable.

Key Details of Nawada Durgapur Power Transmission Limited

The specific purpose of the acquisition is to undertake the identified transmission corridor project. The consideration for the acquisition involved a 100% subscription to the equity share capital in cash at face value. REC Power Development and Consultancy Limited acts as the Bid Process Coordinator for the selection of Transmission Service Providers through the competitive bidding process for projects assigned by the Ministry of Power and State Governments.