Transmission SPV Ranipur Chunar Power Transmission sold and transferred to H G Infra Engineering
REC's wholly owned arm RECPDCL has transferred its entire holding of 50,000 equity shares in Ranipur Chunar Power Transmission Limited, along with all assets and liabilities, on September 26, 2026.
By ScoutQuest · · 1 min read
- Transaction Date
- September 26, 2026
- Equity Shares Transferred
- 50,000 equity shares
- Buyer
- H G Infra Engineering Limited
- Consideration
- ₹1,88,49,228/- (including taxes)
What happened
REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, has transferred its entire shareholding in Ranipur Chunar Power Transmission Limited, comprising 50,000 equity shares, along with all its assets and liabilities, on September 26, 2026, after receiving the necessary consideration.
Who bought it
- Successful bidder: H G Infra Engineering Limited, selected through a tariff-based competitive bidding process.
- The buyer does not belong to the promoter or promoter group.
- The transaction does not fall within the purview of related party transactions.
- The Share Purchase Agreement was executed between RECPDCL and the successful bidder on September 26, 2026.
Consideration
The consideration comprises an acquisition price of ₹1,88,49,228/- (including taxes), which is inclusive of professional fee and reimbursement of expenses. The consideration was determined in accordance with guidelines issued from time to time by the Ministry of Power, Government of India.
Financial contribution
The amount and percentage of turnover, revenue or income and net worth contributed by this unit during the last financial year is stated as negligible.
Why this happens
REC, through RECPDCL, acts as a bid process coordinator for inter-state and intra-state transmission projects. It forms project-specific special purpose vehicles (SPVs), runs a tariff-based competitive bidding process, and then transfers the SPV to the winning bidder who builds and operates the line. Such transfers are a routine part of this role.
Effect
With effect from September 26, 2026, Ranipur Chunar Power Transmission Limited is no longer a subsidiary of RECPDCL and REC Limited. The transaction is not in the nature of a slump sale.
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 SPV transferred50,000 equity shares
- Consideration (acquisition price, including taxes)₹1,88,49,228/-
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