REREC532955Subsidiary or JV

Three power transmission subsidiaries incorporated under RECPDCL

REC Ltd has informed the exchanges that three companies have been incorporated as wholly owned subsidiaries of REC Power Development and Consultancy Limited (RECPDCL), itself a wholly owned subsidiary of REC Ltd.

By ScoutQuest · Fri 23 Oct 2026, 10:06 PM IST · 2 min read

Number of subsidiaries incorporated

three companies

Authorised and paid-up capital each

Rs. 5,00,000/-

Date of incorporation

October 23, 2026

What has been announced

REC Ltd has informed the stock exchanges that three companies have been incorporated as wholly owned subsidiaries of REC Power Development and Consultancy Limited (RECPDCL). RECPDCL is itself a wholly owned subsidiary of REC Ltd, so under Section 2(87) of the Companies Act, 2013 these three are also subsidiaries of REC Ltd.

• Bikaner V Part D Power Transmission Limited
• Bikaner V Part C Power Transmission Limited
• YEIDA Power Transmission Limited

All three were incorporated on October 23, 2026, and each is yet to commence business.

Why these companies have been set up

RECPDCL acts as the Bid Process Coordinator (BPC) for transmission projects that are awarded through the Tariff Based Competitive Bidding (TBCB) route. For each such project it creates a project-specific company; once a successful bidder is selected, that company is transferred to the bidder along with all its assets and liabilities.

• Bikaner V Part D: transmission scheme for evacuation of power as part of Rajasthan REZ Ph-IV (Part-6: 6GW) (Bikaner Complex) (Bikaner V: 6GW) - Part D, allocated by a Ministry of Power Gazette Notification dated June 19, 2026.
• Bikaner V Part C: the same scheme, Part C, under the same notification.
• YEIDA: construction of a 400/220 kV, 3x500 MVA GIS substation at Sector-28 Yeida (Gautambudh Nagar) with associated lines and bays, allocated by a letter dated August 10, 2026 from U.P. Power Transmission Corporation Limited.

Money involved

Each of the three companies has authorised capital of Rs. 5,00,000/- and paid-up capital of Rs. 5,00,000/-. The consideration is 100% subscription to the equity share capital, in cash, at face value. Turnover is shown as not applicable, since each company is newly incorporated and is yet to commence business.

Related party position

Each company is a related party of REC Ltd because it is a wholly owned subsidiary of RECPDCL. The promoter, promoter group and group companies have no interest in these entities except to the extent of their shareholding.

What a retail investor can take away

• These are small, newly formed, project-specific companies with paid-up capital of Rs. 5,00,000/- each; the update is about creating the vehicles through which the transmission projects will be bid out.
• Ownership is transitional by design: the companies are to be transferred to the successful TBCB bidder once selection is done.
• Since the companies are yet to commence business, they do not bring any turnover or operating revenue at this stage.
• The two Bikaner entities relate to a 6GW renewable energy zone evacuation scheme in Rajasthan, and the YEIDA entity to a substation project in Uttar Pradesh.

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