REC LIMITED — Capital/Financing Update 2019

Sep 13, 2019

{Formerly Rural Electrification Corporation Limited} fo 7 (WIA Uae wT Gera) / (A GovernmentofIndia Enterprise) Gee(sr Regd. Office: Core4, SCOPE Complex, 7, Lodhi Road, New Delhi 110 003 peeciitics. Tet +91-11-4309 1500 | Fax: +91-11-2436 0644 | Website: www.recincia.com We em EAT $ site CIN : L40101DL1969G01I005095 | GST No.: O7AAACR4512R1Z3

avsat fafaes | REC Limited

SEC-1/187(2)/2019/2.8& Dated: September 13, 2019

ListingDepartment,	RelationshipDepartment,Corporate
IndiaLimitedofStockExchangeNational	LimitedBSE
Complex,BandraKurlaExchangePlaza,	Towers1"Floor,PhirozeJecjecbhoy
Bandra(East),	DalalStreet,Fort,
051Mumbai—400	001Mumbai—400
RECLTDScripCode--	Code—532955Scrip

Sub: Sale and transfer of Udupi Kasargode Transmission Limited, a wholly owned subsidiary of RECTPCLandalso of REC.

DearSir(s),

In compliance with the provisions of SEB] (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 Udupi Kasargode Transmission Limited, comprising of 50,000 equity shares, have been transferred along with all its assets and liabilities on September 12, 2019, to Sterlite Grid 14 Limited, the successful bidderselected through Tariff Based Competitive Bidding Process for 'Transmission System for 400 kV Udupi (UPCL)-Kasargode D/C line.

In terms of the Guidelines/directions issued, from time to time, by the Ministry of Power, Governmentof India, RECTPCL has received a consideration of € 8.50 crore, comprising of %7.43 crore (including GST) towards Professional Fee for Bid Process Coordination, ~0.05 crore towards cost of acquiring 50,000 equity shares of % 10/- cach of Udupi Kasargode Transmission Limited at par value and balance amount towards reimbursement of expenditure incurred on the project by RECTPCLandinterestcost etc., from the successful Bidder. Further, contribution of the aforesaid SPV to the turnover or revenuc or income and net worth of REC,during the last 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,

mitabh) Iixecutive Director & Company Secretary

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 Training Centre : REC Institute of Power Management & Training (RECIPMT), Hyderabad