REC LIMITED — Capital/Financing Update 2025

Mar 26, 2025

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----- Start of picture text ----- SEC-1/187(2)/2025/ 2218 Dated: March 26, 2025िल��ंग िवभाग , कॉप�रेट संबंध िवभागनेशनल �ॉक ए�च�ज ऑफ इंिडया िलिमटेड बीएसई िलिमटेडए�च�ज �ाजा , बां�ा कुला� कॉ��े� , पहली मंिजल , फीरोज जीजीभोय टावस�बां�ा ( पूव� ), मबई - ४०० ०५१ दलाल ��ीट , फोट� , मबई - ४०० ००१��प कोड —RECLTD ��प कोड —532955Listing Department Corporate Relationship DepartmentNational Stock Exchange of India Limited BSE LimitedExchange Plaza, Bandra Kurla Complex, 1st Floor, Phiroze Jeejeebhoy TowersBandra (East), Mumbai – 400 051 Dalal Street, Fort, Mumbai – 400 001Scrip Code—RECLTD Scrip Code—532955----- End of picture text -----

िवषय: आरईसी िलिमटेड की प�रयोजना िविश� एसपीवी/ सहायक कंपनी की िब�ी और ह�ांतरण की सूचना।

Sub: Intimation of sale and transfer of project specific SPV / subsidiary of REC Limited (“REC”).

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is informed that after receipt of necessary consideration by REC Power Development and Consultancy Limited (“RECPDCL” - a wholly owned subsidiary of REC), the entire shareholding of Mahan Transmission Limited, comprising of 50,000 equity shares, held by RECPDCL, has been transferred at par value along with all its assets and liabilities on March 26, 2025 to the successful bidder selected through tariff based competitive bidding process.

Hence, with effect from the aforesaid date, the project specific SPV/subsidiary is not the subsidiary of RECPDCL & REC. Further, the details as required under SEBI Circular dated July 13, 2023 and other applicable circulars are enclosed herewith as Annexure-1 .

This is for your kind information.

ध�वाद ,

भवदीय ,

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: 2025.03.26 16:57:58 +05'30' ( जे . एस . अिमताभ) काय�कारी िनदेशक और कंपनी सिचव

संल� : ऊपरो� अनुसार

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Annexure-1

Details of sale and transfer of Subsidiary

Sl. No.	Particulars	Mahan Transmission Limited
1.	The amount and percentage of the turnover or revenue orincome and net worth contributed by such unit or division ofthe listed entity during the last financial year.	Negligible
2.	Date on which the agreement for sale has been entered into.	The Share Purchase Agreement (SPA) has been executed between RECPDCL &successful bidder on 26.03.2025.Consideration comprises professional fee of₹3.28 crore & reimbursement ofexpenses.
3.	The expected date of completion of sale/disposal.
4.	Consideration received from such sale/disposal.
5.	Brief details of buyer and whether the buyers belong to thepromoter/ promoter group/group companies. If yes, detailsthereof.	Name of SPV:Mahan Transmission LimitedName of Successful Bidder:Adani Energy Solutions LimitedIt is pertinent to mention that the successful Bidder mentioned above, does notbelong to Promoter and Promoter group.
6.	Whether the transaction would fall within related partytransactions? If yes, whether the same is done at"arm's length".	The transaction does not fall within the purview of related party transaction.
7.	whether the sale, lease or disposal of the undertaking is outsideScheme of Arrangement? If yes, details of the same includingcompliance with regulation 37A of LODR Regulations.	Not Applicable
8.	Whether the transaction is in the nature of Slump Sale.	The proposal for sale and transfer of Mahan Transmission Limited, to thesuccessful bidder as per details given in Point no. 5 above is not in the nature ofslump sale.Further, the consideration for sale & transfer of SPV is determined in accordancewith the Guidelines issued from time to time by the Ministry of Power,Government of India.

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