REC Limited completed the sale and transfer of two project-specific subsidiaries, Hampapura Power Transmission Limited and Mekhali Power Transmission Limited, on May 30, 2026. The transaction was executed by REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, following the receipt of necessary consideration. The entire shareholding of 50,000 equity shares in each subsidiary was transferred at par value along with all assets and liabilities to successful bidders selected through a tariff-based competitive bidding process.

The transfer was formalized through Share Purchase Agreements (SPA) executed between RECPDCL and the respective bidders on May 30, 2026. Consequently, with effect from this date, Hampapura Power Transmission Limited and Mekhali Power Transmission Limited ceased to be subsidiaries of RECPDCL and REC Limited. The contribution of these units to the turnover or net worth of the listed entity during the last financial year was reported as negligible.

Sale Details

The successful bidders for the two subsidiaries were Resonia Limited and Dilip Buildcon Limited. 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 considered slump sales. The consideration for the transfer was determined in accordance with the guidelines issued by the Ministry of Power, Government of India.

Financial Breakdown

The total consideration received from the disposal of the two subsidiaries amounted to ₹16.67 crore. The table below details the specific acquisition prices for each SPV.

The consideration amounts are inclusive of taxes, professional fees, and reimbursement of expenses. The sale was conducted outside a Scheme of Arrangement, and the specific compliance with Regulation 37A of the LODR Regulations was not applicable in this instance.

REC Ltd. recorded a notable block trade on the National Stock Exchange (NSE), with approximately 788,726 shares changing hands at a price of Rs. 335.40 per share. The total value of the transaction amounted to Rs. 26.45 crores, reflecting significant institutional-level activity in the stock.

Block Trade Details

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

Block trades of this scale are typically executed by institutional investors or large market participants, and are carried out outside the regular order book to minimize market impact. The transaction in REC Ltd. underscores continued interest from large-scale investors in the stock.