REC Limited completes sale of subsidiary Musalgaon Power Transmission Limited
REC Limited, via its subsidiary RECPDCL, sold its entire stake in Musalgaon Power Transmission Limited on September 9, 2026. The sale consideration was ₹20,89,930. The subsidiary's contribution to REC's financials was negligible. The buyer is Maharashtra State Electricity Transmission Company Limited.
The impact is considered low as the subsidiary's contribution to REC Limited's overall financial performance was negligible. The sale is a standard corporate action and does not significantly alter the company's financial standing or operational scope.
The announcement details a routine divestment of a subsidiary following a competitive bidding process. While it signifies a corporate action, it does not inherently present positive or negative financial implications for REC Limited due to the negligible contribution of the subsidiary.
REC Limited, through its wholly owned subsidiary REC Power Development and Consultancy Limited (RECPDCL), has completed the sale and transfer of its project-specific subsidiary, Musalgaon Power Transmission Limited. The entire shareholding of 50,000 equity shares, along with all its assets and liabilities, was transferred to Maharashtra State Electricity Transmission Company Limited on September 9, 2026.
The transaction followed a tariff-based competitive bidding process. The consideration received for the sale and transfer of the subsidiary amounts to ₹20,89,930, inclusive of taxes, professional fees, and reimbursement of expenses. The contribution to REC Limited's turnover, revenue, income, and net worth from Musalgaon Power Transmission Limited was deemed negligible.
It is pertinent to note that the successful bidder, Maharashtra State Electricity Transmission Company Limited, does not belong to the promoter or promoter group of REC Limited, and the transaction does not fall within the purview of related party transactions. The sale is not considered a slump sale and was conducted in accordance with guidelines issued by the Ministry of Power, Government of India.
What to do with a filing like this
REC Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by REC Limited. Read the original for the full detail.