REC transfers two power transmission SPVs for ₹30.54 crore

REC Limited, through its wholly owned subsidiary REC Power Development and Consultancy Limited (RECPDCL), transferred the entire shareholding of two project-specific Special Purpose Vehicles (SPVs) on June 30, 2026. The transfer of WR ER Part A Power Transmission Limited and WR ER Part C Power Transmission Limited was completed after receipt of necessary consideration from the successful bidders selected through a tariff-based competitive bidding process. The total consideration for the sale amounted to ₹30.54 crore, comprising ₹18.62 crore for the first SPV and ₹11.93 crore for the second, inclusive of taxes and professional fees. Consequently, these entities ceased to be subsidiaries of RECPDCL and REC Limited with effect from the said date.

The Share Purchase Agreement (SPA) for both transactions was executed on June 30, 2026. The buyers identified were Power Grid Corporation of India Limited for WR ER Part A Power Transmission Limited and H G Infra Engineering Limited for WR ER Part C Power Transmission Limited. The filing confirmed that neither bidder belongs to the promoter or promoter group of REC Limited. The transactions do not fall within the purview of related party transactions and are not in the nature of slump sales. The consideration for the transfer was determined in accordance with the guidelines issued by the Ministry of Power, Government of India.

Transaction Details

Sl. No.	Name of the Subsidiary	Successful Bidder	Consideration (₹)
1.	WR ER Part A Power Transmission Limited	Power Grid Corporation of India Limited	18,61,68,233
2.	WR ER Part C Power Transmission Limited	H G Infra Engineering Limited	11,92,59,679

The turnover or revenue contribution of these units to REC Limited during the last financial year was negligible. The intimation regarding this sale and transfer was submitted to the exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.93%	-4.89%	+2.50%	-5.22%	-10.91%	+227.17%

REC Limited has promoted four senior officials to the position of Executive Director, effective June 28, 2026, subject to the assumption of charge. The appointments were made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The changes impact the senior management level, which is one tier below the Board of Directors.

Appointments and Profiles

The four newly appointed Executive Directors bring diverse expertise in finance, technology, and engineering. Their brief profiles and previous roles within the organization are detailed below:

Name	Previous Role	Qualifications
Shri Sahab Narain	General Manager (Finance & Accounts)	Member of the Institute of Cost Accountants of India; Master's degree in Business Administration from IIFT, New Delhi
Shri Bhupesh Chandolia	Senior General Manager (Finance & Accounts)	Bachelor's degree in Commerce from Shri Ram College of Commerce; Master's degree in Business Administration (Finance) from BIT, Mesra
Shri Pankaj Gupta	Senior General Manager (Information Technology)	Bachelor's and Master's degree in Technology (Computer Science); MBA; Masters in Business Law; Post Graduate Diploma in Cyber Law, Cyber Crime Investigation and Digital Forensics
Smt. S. Jayanthi	Senior General Manager (Engineering)	Bachelor's degree in Engineering (Electrical & Electronics)

Regulatory Disclosures

The disclosure regarding these changes was submitted to the exchanges by Dinesh Garg, Company Secretary & Compliance Officer of REC Limited. The filing confirmed that there are no specific disclosures required regarding relationships between directors, as the section was marked 'Not Applicable'. The appointments are aimed at strengthening the company's leadership across key functional areas.