Sale and Transfer of Project-Specific SPV Balsane Power Transmission Completed

RECPDCL (wholly owned subsidiary of REC) has transferred its entire holding of 50,000 equity shares in Balsane Power Transmission Limited, with all assets and liabilities, to Resonia Limited on September 28.

Mon 28 Sep 2026

Transaction Date

September 28, 2026

Shares Transferred

50,000 equity shares

Buyer

Resonia Limited

Consideration Amount

₹5,59,19,024/- (including taxes)

Financial Contribution

Negligible

What happened

REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, has transferred its entire shareholding in Balsane Power Transmission Limited, comprising 50,000 equity shares, along with all its assets and liabilities, on September 28, 2026.

Buyer and process

• Successful bidder: Resonia Limited, selected through a tariff-based competitive bidding process.
• The buyer does not belong to the promoter or promoter group.
• The transaction is not a related party transaction.
• The Share Purchase Agreement was executed between RECPDCL and the successful bidder on September 28, 2026.

Consideration

Consideration comprises an acquisition price of ₹5,59,19,024/- (including taxes), which is inclusive of professional fee and reimbursement of expenses.

Financial contribution

The turnover or revenue or income and net worth contributed by this unit during the last financial year is stated as negligible.

Other details

• The transaction is not in the nature of a slump sale.
• Consideration for sale and transfer of the SPV is determined in accordance with guidelines issued from time to time by the Ministry of Power, Government of India.
• With effect from September 28, 2026, Balsane Power Transmission Limited is no longer a subsidiary of RECPDCL and REC Limited.

How to read this

RECPDCL acts as a bid process coordinator, forming project-specific special purpose vehicles for transmission projects and handing them to the winning bidder. Such transfers are a routine part of this business model, and the company has described the entity's financial contribution as negligible.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.