REC Sells Two SPVs for ₹16.67 Crore; Dilip Buildcon and Resonia Limited Emerge as Bidders
REC Limited, through its subsidiary RECPDCL, sold two SPVs, Hampapura Power Transmission and Mekhali Power Transmission, on May 30, 2026. Resonia Limited acquired Hampapura for ₹8.61 crore and Dilip Buildcon Limited acquired Mekhali for ₹8.06 crore. These SPVs are no longer subsidiaries of REC.
The sale of two project-specific SPVs with negligible contribution to turnover, revenue, or income, and whose net worth is also negligible, is unlikely to have a material impact on the overall financial health or operational scale of REC Limited.
The sale of SPVs is a routine business activity and does not significantly impact the company's overall financial performance or future prospects in a positive or negative way. The transactions were conducted at par value as per competitive bidding.
REC Limited (RECLTD) has announced the sale and transfer of two of its project-specific Special Purpose Vehicles (SPVs), Hampapura Power Transmission Limited and Mekhali Power Transmission Limited. The transfer was executed on May 30, 2026, by its wholly-owned subsidiary, REC Power Development and Consultancy Limited (RECPDCL).
The entire shareholding of these subsidiaries, comprising 50,000 equity shares each, was transferred at par value along with all their assets and liabilities to the successful bidders selected through a tariff-based competitive bidding process. Resonia Limited emerged as the successful bidder for Hampapura Power Transmission Limited, while Dilip Buildcon Limited acquired Mekhali Power Transmission Limited.
The consideration received for Hampapura Power Transmission Limited amounted to ₹8,60,77,476 (approximately ₹8.61 crore), inclusive of taxes, professional fees, and reimbursement of expenses. For Mekhali Power Transmission Limited, the consideration was ₹8,05,99,524 (approximately ₹8.06 crore), also including taxes, professional fees, and expenses. The transaction for both SPVs 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. Following these transfers, these SPVs are no longer subsidiaries of RECPDCL or REC Limited.
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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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See the model portfoliosA plain-language summary of a public exchange filing by REC Limited. Read the original for the full detail.