REC Limited has announced the incorporation of its wholly owned subsidiary, Kesurdi Power Transmission Limited, on July 14, 2026. This new entity is a subsidiary of REC’s existing subsidiary, RECPDCL. The incorporation is in line with the government’s initiative for establishing a 220 kV GIS at Kesurdi, Dist. Satara. The subsidiary will be transferred to the successful bidder post the competitive bidding process.
REC Limited Establishes New Subsidiary
REC Limited, a Maharatna Company under the Government of India, has officially announced the incorporation of a new wholly owned subsidiary named Kesurdi Power Transmission Limited. The incorporation date is recorded as July 14, 2026. This new entity is a subsidiary of REC Power Development and Consultancy Limited (RECPDCL), which is itself a wholly owned subsidiary of REC Limited. Consequently, Kesurdi Power Transmission Limited is also considered a subsidiary of REC Limited under Section 2(87) of the Companies Act, 2013.
Project Context and Rationale
The incorporation is directly linked to a project awarded by the Government of Maharashtra. A Gazette Notification dated February 27, 2026, allocated an intra-state transmission project for the establishment of a 220 kV GIS at Kesurdi, District Satara. RECPDCL has been appointed as the Bid Process Coordinator (BPC) for this project.
Subsidiary’s Role and Future
Kesurdi Power Transmission Limited has been incorporated with an authorized and paid-up capital of ₹5,00,000/- each. As it is a newly incorporated company, its turnover is not applicable, and it is yet to commence business operations. Following the selection of a successful bidder through the Tariff Based Competitive Bidding (TBCB) guidelines, the company, along with all its associated assets and liabilities, will be transferred to the successful bidder.
Transaction Details
The company is classified under the Power Sector. The consideration for the acquisition is a 100% subscription to the equity share capital in cash, at face value. The shareholding acquired is 100%. RECPDCL, in its role as BPC, facilitates the selection of the Transmission Service Provider through the TBCB process for both inter-state and intra-state transmission projects assigned by the Ministry of Power and State Governments.
Source: BSE
