REC Limited (RECLTD) — Announcement

📢 Key Event
REC transfers Jalna Power Transmission subsidiary to non-promoter bidder

💡 Investor Takeaway
This sale reduces REC's subsidiary holdings and may improve focus on core operations, but divestment proceeds are not explicitly detailed.

REC Limited announced the transfer of its wholly owned subsidiary Jalna Power Transmission Limited, comprising 50,000 equity shares at par value along with all assets and liabilities, to a successful bidder selected through a tariff-based competitive bidding process on June 12, 2026. The transaction, valued at ₹3,21,57,839 inclusive of taxes and professional fees, marks the exit from the project-specific SPY I subsidiary. The buyer, Maharashtra State Electricity Transmission Company Limited, is not part of the promoter group, and the sale is not classified as a related party or slump sale transaction. This divestment reflects a strategic realignment of REC's portfolio, potentially reducing exposure to non-core assets and signaling a focus on core power infrastructure operations.

📄 View Original Announcement (PDF)

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