REC divests Rajgarh Neemuch Power Transmission subsidiary

REC Limited, through its wholly-owned subsidiary RECPDCL, confirmed the sale of Rajgarh Neemuch Power Transmission Limited on September 29, 2025. The entire shareholding of 50,000 equity shares was transferred at par value, along with all assets and liabilities, to the successful bidder, GR Infraprojects Limited. This transaction means the special purpose vehicle is no longer a subsidiary of RECPDCL or REC Limited.

The Share Purchase Agreement was executed between RECPDCL and GR Infraprojects Limited on the same date. Consideration for the sale includes a professional fee of ₹15 crore and reimbursement of expenses, determined in accordance with Ministry of Power guidelines. GR Infraprojects Limited is not a promoter or promoter group entity.

The transaction does not constitute a related party transaction nor is it in the nature of a slump sale.