REC Sells Balsane Power Transmission Subsidiary for ₹5.59 Crore
REC Limited's subsidiary, RECPDCL, sold its entire stake in Balsane Power Transmission Limited for ₹5.59 crore on September 28, 2026. The buyer is Resonia Limited, which is not a promoter group entity. The subsidiary's contribution to REC's financials was negligible.
The sale involves a project-specific subsidiary whose contribution to REC Limited's overall financial performance was negligible. Therefore, the impact of this divestment on the parent company is expected to be minimal.
The sale of a subsidiary is a routine corporate action and does not inherently indicate positive or negative performance for the parent company, REC Limited. The financial contribution of the subsidiary was negligible.
REC Limited announced the sale and transfer of its project-specific subsidiary, Balsane Power Transmission Limited, on September 28, 2026. The entire shareholding of 50,000 equity shares, along with its assets and liabilities, was transferred by REC Power Development and Consultancy Limited (RECPDCL), a wholly-owned subsidiary of REC Limited, to the selected bidder, Resonia Limited. This transaction was finalized after the receipt of the necessary consideration.
With this transfer, Balsane Power Transmission Limited is no longer a subsidiary of RECPDCL or REC Limited. The Share Purchase Agreement (SPA) was executed on September 28, 2026. The consideration received for the sale amounts to ₹5,59,19,024 (including taxes), which also covers professional fees and reimbursement of expenses. The acquiring company, Resonia Limited, does not belong to the promoter or promoter group of REC Limited, and the transaction is not considered a related party transaction or a slump sale. The contribution to REC's turnover, revenue, income, and net worth from Balsane Power Transmission Limited was deemed negligible.
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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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