REC Limited has completed the sale of its entire shareholding in two project-specific subsidiaries, Velgaon Power Transmission Limited and Jejuri Hinjewadi Power Transmission Limited, effective January 9, 2026. The stakes were acquired by Ceigall India Limited and The Tata Power Company Limited, respectively, following a tariff-based competitive bidding process. This divestment aligns with REC’s strategy to streamline its portfolio.
Divestment of Transmission Assets
REC Limited has successfully sold its complete stake in two of its subsidiaries, namely Velgaon Power Transmission Limited and Jejuri Hinjewadi Power Transmission Limited. The transaction was finalized on January 9, 2026, after the receipt of necessary consideration by REC Power Development and Consultancy Limited (RECPDCL), a wholly-owned subsidiary of REC Limited.
Details of the Sales
The entirety of the shareholding in both subsidiaries, consisting of 50,000 equity shares each, was transferred at par value. This transfer included all associated assets and liabilities. The stakes were acquired by the successful bidders selected through a tariff-based competitive bidding process.
Acquiring Companies
Ceigall India Limited acquired Velgaon Power Transmission Limited, while The Tata Power Company Limited took over Jejuri Hinjewadi Power Transmission Limited.
Financial Considerations
The consideration for the sale of Velgaon Power Transmission Limited comprised a professional fee of ₹1,06,85,879.00 (including taxes) plus reimbursement of expenses. For Jejuri Hinjewadi Power Transmission Limited, the consideration consisted of a professional fee of ₹1,56,98,191.00 (including taxes) and reimbursement of expenses.
Source: BSE
