REC LIMITED — Capital/Financing Update 2024

Mar 28, 2024

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Digitally signed by Jyoti Shubhra Amitabh DN: c=IN, o=Personal, title=0573, Jyoti pseudonym=133065811914836276Dm3B8269pXyOd3, 2.5.4.20=90de92ff366d85bfab279748d edfb1a88a5af19e87ea57b3f19ab9d20d Shubhra 92f4e8, postalCode=201301, st=Uttar Pradesh, serialNumber=159303584c6c1556d495 ded817d8acafb7052d4bc2ffef2356115 Amitabh a0e92ae00ac, cn=Jyoti Shubhra Amitabh Date: 2024.03.28 14:50:19 +05'30'

SI.No.	Particulars	Details
1.	Nameofthe target entity, details inbrief such as size, turnover etc.	Name: ERES-XXXIX Power Transmission LimitedAuthorized Capital:z5 ,00,000/ -Paidup Capital:z5 ,00,000/ -Turnover:NotApplicable(ItISanewlyincorporated companyandisyet to commence itsbusiness).Central Electricity Authority, MinistryofPower,vide letter dated December 7, 2023hadallocatedone transmission project, whereinRECPDCLhasbeen appointed to act as Bid process Coordinator(BPC) for the purposeofselectionofBidder asTransmission service provider for_"Eastern Region_ExpansionScheme- XXXIX(ERES- XXXIX)".InVIewofthe above, ERES-XXXIXPowerTransmission Limited has been incorporatedonMarch27, 2024. After selectionofthe successfulbidder in accordance with the TBCB guidelines, saidcompany would be transferred to the successfulbidder along with all assets&liabilities.
2.	Whetherthe acquisition would fallwithin related party transaction(s)andwhetherthepromoter /promoter group/ group companieshave any interest in the entity beingacquired?Ifyes, natureofinterestanddetailsthereofandwhether thesameisdoneat"armslen~h"	ERES-XXXIX Power Transmission LimitedISaWhollyOwnedSubsidiaryofRECPowerDevelopment&Consultancy Limited (a WhollyOwnedSubsidiaryofRECLimited), therefore it is arelated partyoftheRECLimited.The Promoter, promoter group/ group companiesdonothaveanyinterest in ERES-XXXIXPowerTransmission Limited except to the extentofitsshareholding.
3.	Industry to which the entity beingacquired belongs	PowerSector
4.	Objects andeffectsofacquisition(includingbutnotlimitedto,disclosureofreasons for acquisitionoftargetentity,ifitsbusinessisoutside the mainlineofbusinessofthelisted entity)	The company has been incorporated to developTransmission system for Eastern Region ExpansionScheme- XXXIX (ERES- XXXIX).
5.	Brief detailsofany governmentalorregulatory approvals required for theacquisition	Incoprorated pursuant to letter datedDecember7,2023 issued by Central ElectricityAuthority,MinistryofPower,whereinRECPowerDevelopment and Consultancy Limited has been

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