REC Limited has announced the transfer of its wholly-owned subsidiary, Ryapte Power Transmission Limited, to a successful bidder. This transfer, completed on July 30, 2026, includes all of Ryapte Power Transmission’s assets and liabilities. The transaction followed a tariff-based competitive bidding process, with the consideration amounting to ₹10.87 crore. This move means Ryapte Power Transmission is no longer a subsidiary of REC or its direct subsidiary, RECPDCL.
REC Completes Subsidiary Transfer
REC Limited has officially divested its entire shareholding in Ryapte Power Transmission Limited, a wholly-owned subsidiary of its own subsidiary, REC Power Development and Consultancy Limited (RECPDCL). The transfer was executed on July 30, 2026, following the successful completion of a tariff-based competitive bidding process. This transaction encompasses all the assets and liabilities associated with Ryapte Power Transmission Limited.
Financial Details of the Transaction
The total consideration received for the sale and transfer of Ryapte Power Transmission Limited amounted to ₹10,86,62,034 (approximately ₹10.87 crore). This figure is inclusive of applicable taxes, professional fees, and reimbursement of expenses. The selection of the successful bidder for this project-specific Special Purpose Vehicle (SPV) was based on competitive bidding.
Buyer and Transaction Nature
The successful bidder identified for this acquisition is The Tata Power Company Limited. It has been clarified that the successful bidder does not belong to REC Limited’s promoter group. Furthermore, the transaction is not considered a related party transaction and does not fall within the nature of a Slump Sale. The consideration for the sale and transfer was determined in accordance with guidelines issued by the Ministry of Power, Government of India.
Source: BSE
