REC Limited — Important, 18-02-2025: General Updates

REC Limited has completed the sale and transfer of two of its project-specific subsidiaries, Bidar Transco Limited and Khavda V-BIB2 Power Transmission Limited, to Power Grid Corporation of India Limited. Each subsidiary comprised 50,000 equity shares, with the transfer occurring after receiving the necessary consideration. The share purchase agreement was executed on the same date, and the total consideration involved a professional fee of ₹5 crore along with reimbursement of expenses. Following this transaction, these subsidiaries will no longer be under REC's purview. This strategic move could streamline operations, but investors should monitor potential impacts on REC's overall capacity and market position.