Project SPV Nawada Durgapur Power Transmission sold and transferred to successful bidder
RECPDCL, a wholly owned subsidiary, has transferred the entire shareholding of Nawada Durgapur Power Transmission Limited — 50,000 equity shares, along with all assets and liabilities — to Shivalaya Construction Limited.
By ScoutQuest · · 2 min read
- Consideration received
- ₹18,44,62,442/- including taxes
- Equity shares transferred
- 50,000 equity shares
- SPV contribution to turnover/revenue/income and net worth
- Negligible
Sale and transfer of a project SPV
- RECPDCL, a wholly owned subsidiary, held the entire shareholding of Nawada Durgapur Power Transmission Limited, made up of 50,000 equity shares.
- After receipt of the necessary consideration, that entire shareholding has been transferred along with all its assets and liabilities on October 16, 2026.
- The transfer was made to the successful bidder selected through a tariff based competitive bidding process.
- With effect from that date, Nawada Durgapur Power Transmission Limited is not the subsidiary of RECPDCL and REC Limited.
The money
- Consideration received: ₹18,44,62,442/- (including taxes), which the update says is inclusive of professional fee and reimbursement of expenses.
- The turnover or revenue or income and net worth contributed by this subsidiary during the last financial year is stated as Negligible.
Buyer and nature of the transaction
- Name of successful bidder: Shivalaya Construction Limited.
- The update states that the successful bidder does not belong to the promoter and promoter group.
- The transaction does not fall within the purview of related party transactions.
- The Share Purchase Agreement between RECPDCL and the successful bidder was executed on October 16, 2026.
- The transaction is not in the nature of a slump sale, and the consideration for the sale and transfer was determined in accordance with the guidelines issued from time to time by the Ministry of Power, Government of India.
What investors may take away
- This is a transfer of a project specific SPV held by the group's consultancy arm, with the buyer chosen through a competitive bidding process.
- The update records the consideration received and describes the SPV's contribution to the listed entity's turnover or revenue or income and net worth as Negligible, which is the context in which the size of the transaction can be read.
- From the said date the company ceases to be a subsidiary, so it no longer forms part of the group.
Also from REC
Three power transmission subsidiaries incorporated under RECPDCL
23 Oct 2026
Board meeting on October 26 to consider September-quarter results and 2nd interim dividend
21 Oct 2026
No-objection letters from NSE and BSE received for proposed merger into Power Finance Corporation
19 Oct 2026
More numbers
- Equity shares of Nawada Durgapur Power Transmission transferred (entire shareholding held by…50,000 equity shares
- Consideration received from sale/disposal (including taxes)₹18,44,62,442/-
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