REC Limited has successfully transferred its entire shareholding in Rajgarh Neemuch Power Transmission Limited to a successful bidder on September 29, 2025. The transfer, executed through REC Power Development and Consultancy Limited (RECPDCL), includes 50,000 equity shares and all related assets and liabilities. The consideration involves a professional fee of ₹15 Crore and reimbursement of expenses.
SPV Transfer Announcement
REC Limited, through its wholly-owned subsidiary RECPDCL, completed the transfer of its equity in Rajgarh Neemuch Power Transmission Limited on September 29, 2025. This transfer follows a competitive bidding process and aligns with REC Limited’s strategic objectives.
Details of the Transfer
The transaction involved the transfer of 50,000 equity shares held by RECPDCL in Rajgarh Neemuch Power Transmission Limited. The transfer encompasses all associated assets and liabilities of the SPV. The consideration received includes a professional fee of ₹15 Crore along with reimbursement of applicable expenses.
Counterparty Information
The successful bidder and recipient of the SPV is GR Infraprojects Limited. GR Infraprojects Limited is not part of the promoter group of REC Limited.
Key Transaction Details
Here are some key details regarding the sale and transfer:
Turnover Contribution: Negligible
Agreement Date: September 29, 2025
Slump Sale: The transaction is not in the nature of a slump sale. The consideration for the sale & transfer of SPV is determined as per the guidelines issued from time to time by the Ministry of Power, Government of India.
Source: BSE
