REC Sells Jalna Power Transmission Subsidiary for ₹3.21 Crore
REC Limited, through its subsidiary RECPDCL, sold Jalna Power Transmission Limited for ₹3.21 Crore on June 12, 2026. The sale includes all assets and liabilities to Maharashtra State Electricity Transmission Company Limited. The unit's contribution to REC's financials was negligible.
The announcement states that the contribution of the subsidiary to REC Limited's turnover, revenue, income, and net worth was negligible, indicating a low impact on the company's overall financial performance.
The sale of a subsidiary is a routine corporate action with no significant positive or negative immediate financial implications mentioned in the announcement.
REC Limited announced the sale and transfer of its project-specific subsidiary, Jalna Power Transmission Limited, on June 12, 2026. The entire shareholding of Jalna Power Transmission Limited, comprising 50,000 equity shares held by REC Power Development and Consultancy Limited (RECPDCL), a wholly-owned subsidiary of REC Limited, was transferred at par value along with its assets and liabilities.
The transfer was made to Maharashtra State Electricity Transmission Company Limited, the successful bidder selected through a tariff-based competitive bidding process. The consideration received for the sale and transfer of the subsidiary amounted to ₹3,21,57,839 (including taxes), which also covers professional fees and reimbursement of expenses. This transaction does not fall within the purview of related party transactions and is not in the nature of a slump sale. The consideration was determined in accordance with the guidelines issued by the Ministry of Power, Government of India.
With this transfer, Jalna Power Transmission Limited is no longer a subsidiary of RECPDCL or REC Limited. The contribution of this unit to the turnover, revenue, income, and net worth of REC Limited in the last financial year was 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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