REC Limited Completes Sale of Bellary Davanagere Power Transmission Subsidiary to Power Grid for ₹13.02 Crore

REC Limited has successfully completed the divestment of its project-specific subsidiary Bellary Davanagere Power Transmission Limited to Power Grid Corporation of India Limited through a competitive bidding process. The transaction, valued at ₹13.02 crore, was finalized on February 12, 2026, marking a strategic move in the company's portfolio optimization. Transaction Details The sale was executed through REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited. The transaction involved the transfer of entire shareholding comprising 50,000 equity shares held by RECPDCL at par value, along with all assets and liabilities of the subsidiary. Parameter: Details Transaction Date: February 12, 2026 Consideration Amount: ₹13,02,26,267.00 (including taxes) Shares Transferred: 50,000 equity shares Transfer Method: At par value Selection Process: Tariff-based competitive bidding Buyer Information and Process Power Grid Corporation of India Limited emerged as the successful bidder through the competitive selection process. The company has clarified that the buyer does not belong to the promoter or promoter group, ensuring the transaction remains at arm's length. The consideration amount of ₹13,02,26,267.00 includes professional fees and reimbursement of expenses. Financial Impact and Compliance The subsidiary's contribution to REC Limited's turnover, revenue, and net worth during the last financial year was negligible, indicating minimal impact on the parent company's financial performance. The transaction has been structured in accordance with guidelines issued by the Ministry of Power, Government of India. Compliance Aspect: Status Related Party Transaction: No Promoter Group Involvement: No Slump Sale Nature: No Ministry Guidelines: Compliant With effect from February 12, 2026, Bellary Davanagere Power Transmission Limited is no longer a subsidiary of either RECPDCL or REC Limited. The transaction represents REC's continued focus on optimizing its subsidiary portfolio while adhering to regulatory requirements and competitive bidding processes mandated for power sector transactions. REC Limited has announced a change in its senior management structure with the cessation of Executive Director Shri Chandra Sekhar Sakhamuri, IAS, effective February 11, 2026. The company informed both the National Stock Exchange of India Limited and BSE Limited about this development in compliance with regulatory requirements. Management Change Details The cessation of the Executive Director position occurred due to administrative reasons related to his civil service posting. The company provided specific details about the management change in its regulatory filing. Parameter Details Executive Name Shri Chandra Sekhar Sakhamuri, IAS Position Executive Director Cessation Date February 11, 2026 Reason Repatriation to parent cadre in Tamil Nadu Regulatory Compliance REC Limited made this disclosure pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The regulation mandates companies to inform stock exchanges about changes in senior management positions, defined as one level below the Board of Directors. Administrative Communication The formal intimation was signed by Dinesh Garg, Company Secretary and Compliance Officer of REC Limited. The notification was simultaneously sent to both major stock exchanges where the company's shares are listed - NSE (scrip code: RECLTD) and BSE (scrip code: 532955). The document was digitally signed and dated February 11, 2026, ensuring proper authentication and compliance with electronic filing requirements. This management change represents a routine administrative transition common in public sector enterprises where IAS officers are periodically repatriated to their home states as part of their career progression and administrative requirements. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians. As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. 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