REC Sells Two Subsidiaries, Barmer HVDC & Sakoli Power, for ₹22.03 Crore
REC Limited's subsidiary RECPDCL sold Barmer HVDC Power Transmission Ltd. to Power Grid Corp for ₹18.98 crore and Sakoli Power Transmission Ltd. to Ashoka Buildcon for ₹3.06 crore. The total sale consideration is ₹22.03 crore. The subsidiaries are no longer part of REC's group.
The sale of two project-specific subsidiaries, which contribute negligible turnover or revenue, is unlikely to have a significant impact on REC Limited's overall financial performance or business operations. The amounts involved are relatively small compared to the company's scale.
The announcement details the sale of two subsidiaries, which is a routine corporate action. While the sale itself doesn't inherently indicate positive or negative performance, it represents a strategic divestment. The consideration amounts are clearly stated, and the transaction appears to be conducted at arm's length.
REC Limited, through its wholly-owned subsidiary REC Power Development and Consultancy Limited (RECPDCL), has completed the sale and transfer of its entire shareholding in two project-specific subsidiaries: Barmer HVDC Power Transmission Limited and Sakoli Power Transmission Limited. The transactions were finalized on September 23, 2026, after the receipt of necessary consideration from the successful bidders selected through a tariff-based competitive bidding process.
Barmer HVDC Power Transmission Limited was sold to Power Grid Corporation of India Limited for a consideration of ₹18,97,52,835 (approximately ₹18.98 crore), inclusive of taxes, professional fees, and reimbursement of expenses. Sakoli Power Transmission Limited was transferred to Ashoka Buildcon Limited for a consideration of ₹3,05,84,508 (approximately ₹3.06 crore), also inclusive of taxes, professional fees, and reimbursement of expenses. The total consideration for both subsidiaries amounts to ₹22,03,37,343 (approximately ₹22.03 crore).
As a result of these transfers, both Barmer HVDC Power Transmission Limited and Sakoli Power Transmission Limited are no longer subsidiaries of RECPDCL or REC Limited, effective September 23, 2026. The company has confirmed that these transactions do not fall within the purview of related party transactions and are not in the nature of a slump sale. The consideration for the sale was determined in accordance with 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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See the model portfoliosA plain-language summary of a public exchange filing by REC Limited. Read the original for the full detail.