REC Limited Transfers Rajgarh Neemuch Power Transmission SPV to OR Infra Projects

New Delhi, September 29, 2025 – REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power, has announced the transfer of its project-specific subsidiary Rajgarh Neemuch Power Transmission Limited to OR Infra Projects Limited, the successful bidder selected through a tariff-based competitive bidding process. The transaction was executed by REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited. As part of the deal, RECPDCL transferred its entire holding of 50,000 equity shares in the SPV at par value, along with all assets and liabilities, effective September 29, 2025. Deal Details: Agreement Date: September 29, 2025 Consideration: Professional fee of ₹15 crore plus reimbursement of expenses Buyer: OR Infra Projects Limited Promoter Linkage: Buyer does not belong to REC’s promoter or promoter group Related Party Transaction: Not applicable Transaction Structure: Not a slump sale; conducted in line with Ministry of Power guidelines With this transfer, Rajgarh Neemuch Power Transmission Limited ceases to be a subsidiary of RECPDCL and REC Limited. This move aligns with REC’s mandate to develop transmission projects through special purpose vehicles (SPVs) and subsequently transfer them to successful bidders under tariff-based competitive bidding, thereby enabling private sector participation in India’s power transmission sector. ✅ Disclaimer: This article is for informational purposes only and should not be considered investment advice. 👉 Follow for more corporate deal updates and power sector developments.