REC LIMITED — Capital/Financing Update 2024

Oct 30, 2024

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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: 2024.10.30 16:14:55 +05'30'

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	corporationofWhollyOwnedSubsidiary named"LakadiaBPowerTransmissionmited"	corporationofWhollyOwnedSubsidiary named"LakadiaBPowerTransmissionmited"	corporationofWhollyOwnedSubsidiary named"LakadiaBPowerTransmissionmited"
SN	I.o.	Particulars	Details
1.		Nameofthe target entity,details in brief suchassize,rum over etc.	Name: Lakadia B Power Transmission LimitedAuthorized Capital:<5,00,0001-Paid up Capital:<5,00,0001-Turnover:NotApplicable (Itisa newly incorporatedCompany andisyet to commence its business).MinistryofPower, vide gazette notification datedAugust 21, 2024hadallocated one transmissionproject, whereinRECPDCLhas been appointed toactasBid Process Coordinator (BPC) for thepurposeofselectionofBidder for Transmissionscheme for evacuationofpower from Transmissionsystem for Augmentationoftransformation capacityat_765/400_kVLakadia_Sis_(WRSS XXI (A)Transco Ltd) in Gujarat - Part B.Inviewofthe above, Lakadia B Power TransmissionLimited has been incorporated on October 29, 2024.After selectionofthe successful bidder in accordancewith the Tariff Based Competitive Bidding (TBCB)guidelines, said company would be transferred to thesuccessful bidder alon owith all assets&liabilities.
2.	.	Whethertheacquisitionwould fall within relatedpartytransaction(s)andwhetherthepromoterlpromotergrouplgroupcompanies have any interestin the entit bein acuired?	Lakadia B Power Transmission Limited is a WhollyOwned SubsidiaryofRECPDCL(aWholly OwnedSubsidiaryofRECLimited), therefore itisa relatedpartyoftheRECLimited.The Promoter, promoter group_I_group companies dot h ittillLkdi B P
		y g qIfyes, narureofinterest anddetails thereof and whetherthe sameisdone at "armslength"	no ave any neres aaa owerTransmission Limited except to the extentofitsshareholding.
3.		Industry to which the entitybeing acquired belongs	Power Sector.
4.		ObjectsandeffectsofTheCompanyhasbeenincorporatedforacquisition (including butTransmission scheme for evacuationofpower fromnot limited to, disclosureofTransmissionsystemforAugmentationofreasons for acquisitionoftransformation capacity at_765/400_kVLakadia_Sis_target entity,ifits businessis(WRSS XXI (A) Transco Ltd) in Gujarat - PartB)outside the mam lineofbusinessofthe listed entity)

	5.	Briefdetailsofany	Incorporated pursuant to gazette notification dated
		governmental or regulatory	August21, 2024	issued by, MinistryofPower,
		approvals required for the	whereinRECPowerDevelopmentandConsultancy
		acquisition	Limited has been nominated asBid Process
			Coordinator.
	6.	Indicative time period for	NotApplicable.
		completionofthe
		acquisition
	7.	Natureofconsideration-	100% subscription	to the equity share capital in cash.
		whether cash consideration
		or share swap and detailsof
		the same
	8.	Costofacquisition or the	100% sUbscription	to the equity shareatface value
		priceatwhich the shares are
		acquired
	9.	Percentageofshareholding	100%
	c	/ control acquired and / or
		numberofshares acquired
	10.	Brief background about the	RECPDCLinter-alia actsasthe "Bid Process
		entity acquired in termsof	Coordinator" for	selectionofTransmission Service
		products/ lineofbusiness	Provider through	TBCB process, for independent
		acquired,dateof	inter-stateand	intra-statetransmissionproject
		incorporation, historyoflast	assigned by the	MinistryofPower and State
		3 years turnover, country in	Governments from time to time.
		which the acquired entity
		has presence and any other
		significant information (in
		brief)