REC LIMITED — Capital/Financing Update 2019

Sep 12, 2019

Tsafafaes | REC Limited (Formerly Rural Electrification Corporation Limited) f- 7

(RA Ata ws Bers) / (A Governmentof India Enterprise} (aF Regd. Office. Core-4, SCOPE Complex, 7, Lodhi Road, New Delhi 110 003 seit Sa, sera BATT Tel: +91-11-4309 1500 | Fax: +91-11-2436 0644 | Website: www.recindia.com Wa ER Faroe A 3 CIN : L40101DL1969G01005095 | GST No.: O7AAACR4512R123

SEC-1/187(2)/2019/ 2&6 Dated: September 12, 2019

ListingDepartment,	CorporateRelationshipDepartment,
NationalStockExchangeofIndiaLimited	BSELimited
ExchangePlaza,BandraKurlaComplex,	1*Floor,PhirozeJeejeebhoyTowers
Bandra(East),	DalalStreet,Fort,
Mumbai~400051.	Mumbai—400001.
ScripCode--RECLTD	ScripCode—532955

Sub: Sale and transfer of Bhind Guna Transmission Limited, a wholly owned subsidiary of RECTPCL andalso of REC.

DearSir(s),

In compliance with the provisions of SEBI (LODR) Regulations, 2015, it is informed that the entire shareholding of REC Transmission Projects Company Limited (RECTPCL), a wholly owned subsidiary of REC Limited in Bhind Guna Transmission Limited, comprising of 50,000 equity shares, have been transferred along with all its assets and liabilities on September 11, 2019, to Power Grid Corporation of India Limited, the successful bidder selected through Tariff Based Competitive Bidding Process for Intra-state transmission work associated with construction of 400 kV Substation near Guna (Distt.- Guna) & construction of 220 kV Substation near Bhind (Distt.-Bhind).

In terms of the Guidelines/directions issued, from time to time, by the Ministry of Power, Governmentof India, RECTPCLhasreceived a consideration of f 4.94 crore, comprising of % 3.79 crore (including GST) towards Professional Fee for Bid Process Coordination, 70.05 crore towards cost of acquiring 50,000 equity shares of % 10/- each of Bhind Guna Transmission Limited at par value and balance amount towards reimbursement of expenditure incurred on the project by RECTPCLandinterest cost etc., from the successful Bidder. Further, contribution of the aforesaid SPV to the turnover or revenue or income and net worth of REC,duringthelast financial year was negligible.

Hence, with effect from the aforesaid date, the above Project Specific SPV is not subsidiary of RECTPCL & REC.

This is for your kind information and dissemination.

Thanking you,

Yoursfaithfully,

Regional Offices: Bangalore, Bhopal, Bhubaneswar, Chennai, Guwahati, Hyderabad, Imphal, Jaipur, Jammu, Kolkata, Lucknow, Mumbai, Panchkula, Patna, Raipur, Ranchi, Thiruvananthapuram & Vijayawada

State Offices : Dehradun, itanagar, Shillong, Shimla, Vadodara & Varanasi