REC Limited Sells Bellary Davanagere Power Transmission Subsidiary to Power Grid

New Delhi, 12 February 2026: REC Limited (NSE: RECLTD, BSE: 532955), a Maharatna public sector enterprise, announced the sale and transfer of its wholly owned subsidiary, Bellary Davanagere Power Transmission Limited (BDPTL), through its subsidiary REC Power Development and Consultancy Limited (RECPDCL).

The sale, executed on 12 February 2026, was conducted via a tariff-based competitive bidding process, with the entire 50,000 equity shares along with all assets and liabilities transferred to Power Grid Corporation of India Limited, the successful bidder. The transaction is not related to promoter or group entities and is outside the purview of related-party transactions.

Key Details:

• Turnover contribution: Negligible in FY25

• Sale consideration: ₹13.02 crore (including taxes, professional fees, and expense reimbursements)

• Agreement date: 12 February 2026

• Nature of sale: Not a slump sale; transaction adheres to Ministry of Power guidelines

Following the transfer, BDPTL is no longer a subsidiary of RECPDCL or REC Limited.

A spokesperson from REC Limited said, “This strategic divestment aligns with REC’s portfolio optimization and focus on core operations while ensuring fair valuation through a transparent competitive bidding process.”