REC Sells Ranipur Chunar Power Transmission Subsidiary for ₹1.88 Crore
REC Limited has sold its subsidiary, Ranipur Chunar Power Transmission Limited, for ₹1.88 crore on September 26, 2026. The sale includes all assets and liabilities of the subsidiary. The buyer is H G Infra Engineering Limited. The financial contribution of the subsidiary was negligible.
The impact is considered low because the subsidiary being sold had a negligible contribution to REC Limited's overall financial performance, and the sale price is a relatively small amount compared to the company's scale.
The announcement details the sale of a subsidiary, which is a routine corporate action. While it is a transaction, it does not significantly impact the company's core operations or financial performance, as the subsidiary's contribution was negligible.
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, Ranipur Chunar Power Transmission Limited. The entire shareholding of 50,000 equity shares, along with all its assets and liabilities, was transferred on September 26, 2026, to the successful bidder selected through a tariff-based competitive bidding process.
Following this transaction, Ranipur Chunar Power Transmission Limited is no longer a subsidiary of RECPDCL or REC Limited. The consideration received for this sale amounts to ₹1,88,49,228 (inclusive of taxes), which covers the acquisition price, professional fees, and reimbursement of expenses. The buyer, H G Infra Engineering Limited, does not belong to the promoter or promoter group of REC Limited, and the transaction is not a related party transaction. The contribution to REC's turnover, revenue, income, and net worth from this unit was negligible in the last financial year. The sale is not a slump sale and the consideration was determined as per the 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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