REC Limited — Important, 24-03-2025: General Updates

REC Limited has announced a board meeting to discuss the sale and transfer of four project-specific subsidiaries to successful bidders, including Power Grid Corporation of India and IndiGrid 2 Private Limited. The subsidiaries, which held negligible revenue and net worth in the previous financial year, were transferred at par value, with total professional fees ranging from ₹5 crore to ₹15 crore for each transaction. This strategic move may streamline operations for REC while potentially improving focus on core businesses. Investors might view this as a positive outlook, indicating a shift towards efficiency and profitability.