What was filed
REC Limited told the exchanges that its wholly owned subsidiary, REC Power Development and Consultancy Limited (RECPDCL), has completed the sale and transfer of two project-specific special purpose vehicles (SPVs). After receiving the consideration, RECPDCL transferred its entire shareholding in each — along with all assets and liabilities — on 29 July 2026 to bidders selected through a tariff-based competitive bidding process.
Bhadla Ramgarh Power Transmission Limited went to Power Grid Corporation of India Limited, and Shongtong Power Transmission Limited went to Terralight Solar Energy Tinwari Private Limited. From that date, both entities cease to be subsidiaries of RECPDCL and REC Limited.
How this fits REC's role
The transfers follow the build-and-transfer model RECPDCL uses for inter-state transmission projects: it incorporates a project-specific SPV, and on award through competitive bidding, the SPV passes to the successful developer. The company said consideration for each transfer was determined per guidelines issued from time to time by the Ministry of Power, and that neither buyer belongs to the promoter or promoter group. The transactions do not fall within related-party transactions and are not in the nature of a slump sale.
Scale to the parent
Per the filing, the turnover, revenue or income and net worth contributed by these units during the last financial year was described as negligible. The event is a routine step in RECPDCL's transmission-bidding activity rather than a change to REC's core financial base.