REC Ltd subsidiary REC Power Development and Consultancy Limited (RECPDCL) has transferred the entire shareholding of Jalna Power Transmission Limited to Maharashtra State Electricity Transmission Company Limited. The transfer, comprising 50,000 equity shares at par value along with all assets and liabilities, was concluded on June 12, 2026. Consequently, the project-specific Special Purpose Vehicle (SPV) is no longer a subsidiary of RECPDCL and REC Limited.

Transaction Overview

The transaction was executed pursuant to a Share Purchase Agreement (SPA) signed between RECPDCL and the successful bidder on June 12, 2026. The consideration for the sale amounted to ₹3,21,57,839, inclusive of taxes, professional fees, and reimbursement of expenses. The transfer was conducted through a tariff-based competitive bidding process in accordance with guidelines issued by the Ministry of Power, Government of India.

Maharashtra State Electricity Transmission Company Limited, the successful bidder, does not belong to the promoter or promoter group of REC Limited. The company confirmed that the transaction does not fall within the purview of related party transactions and is not in the nature of a slump sale. The contribution of the transferred unit to the turnover or net worth of the listed entity during the last financial year was negligible.

The details of the transaction were disclosed to the exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by Dinesh Garg, Company Secretary and Compliance Officer of REC Limited.

Key Transaction Details

REC Ltd. was the subject of a notable block trade on the National Stock Exchange (NSE), with approximately 769,379 shares changing hands at a price of Rs. 335.25 per share. The total transaction value of the block trade stood at Rs. 25.79 crores.

Block Trade Details

The following table summarizes the key parameters of the block trade recorded on the NSE:

Block trades of this nature are typically executed by large institutional participants and are carried out as a single transaction involving a substantial number of shares. The trade in REC Ltd. reflects notable activity in the stock on the NSE platform.