REC LIMITED — Capital/Financing Update 2024

Nov 19, 2024

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2051

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Jyoti Shubhra Amitabh Digitally signed by Jyoti Shubhra Amitabh DN: c=IN, o=Personal,CID - 6992566, pseudonym=20240829162233235, 2.5.4.20=96ed5c3c20972a0f47df962fdc4a780c9e9024cf91b3ff6f7d5f85abae7d8510, postalCode=201301, st=Uttar Pradesh, title=0573, serialNumber=159303584c6c1556d495ded817d8acafb7052d4bc2ffef2356115a0e92ae00ac, cn=Jyoti Shubhra Amitabh Date: 2024.11.19 18:30:30 +05'30'

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	Detailsofsale	Annexure-IandtransferofSubsidiary
SI.No.	Particulars	Khavda V-APowerTransmission Limited
t	The amount andpercentage of the turnover or revenue orincome and net worth contributed by such unit or divisionofthelisted entity duringthe lastfinancialyear.	Negligible
2.	Date on which the agreement forsale hasbeen entered into.	The SharePurchase Agreement(SPA) has been executed betweenRECPDCL&successfulbidder on 19.11.2024.Consideration comprises professional fcc of Rs.15Crore&reimbursement ofexpenses.
3.	Theexpected dateofcompletion of sale/ disposal.
4.	Consideration received from such sale/disposal.
5.	Briefdetails of buyerandwhether thebuyersbelong to thepro moter/ promoter group/group companies.Ifyes,detailsthereof.	Name of SPV:KhavdaV-APowerTransmissionLimitedName of SuccessfulBidder:PowerGridCorporationofindiaLimitedIt is pertinentto mention that the successfulBidder mentioned above, docs notbelong to Promoter and Promoter group.
6.	Whetherthe transaction wouldfallwithin related partytran sactions?Ifyes, whether the same is done at"arm'sleng th".	The transaction docs notfallwithin the purview of related palty transaction.
7.	whether thesale,lease or disposalofthe undertaking isoutside SchemeofArrangement?Ifyes, details of thesameincl uding compliance with regulation 37A of LODRRegulations.	Not Applicable
8.	Whetherthe tn nsaction isinthe natureofSlump Sale.	The proposal for sale and transfer of Khavda V-A Power Transmission Limited, tothe successfulbidder as per details giveninPoint no. 5 above is notinthe nature ofslump sale.Further, the consideration forsale&transferofSPVsis determined in accordancewith the G uidelinesissued fromtimc to time by the MinistryofPower, Governmentof India.