REC LIMITED — Capital/Financing Update 2025

Feb 18, 2025

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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: 2025.02.18 18:32:38 +05'30'

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		Details of sale and transfer of Subsidiaries	Details of sale and transfer of Subsidiaries	Annexure-1
	Sl.No.	Particulars	Bidar Transco Limited	Khavda V-B1B2 Power Transmission Limited
	1.	The amount and percentage of the turnover orrevenue or income and net worth contributed bysuch unit or division of the listed entity during thelast financialyear.	Negligible	Negligible
	2.	Date on which the agreement for sale has beenentered into.	The Share Purchase Agreement (SPA) has beenexecuted between RECPDCL & successfulbidder on 18.02.2025.Consideration comprises professional fee of₹5crore & reimbursement of expenses.	The Share Purchase Agreement (SPA) has beenexecuted between RECPDCL & successfulbidder on 18.02.2025.Consideration comprises professional fee of₹5crore & reimbursement of expenses.
	3.	The expected date of completion of sale/disposal.
	4.	Consideration received from such sale/disposal.
	5.	Brief details of buyer and whether the buyersbelong to the promoter/ promoter group/groupcompanies. If yes, details thereof.	Name of SPV:Bidar Transco LimitedName of Successful Bidder:M/s Power GridCorporation of India LimitedIt is pertinent to mention that the successfulBidder mentioned above, does not belong toPromoter and Promoter group.	Name of SPV:Khavda V-B1B2 PowerTransmission LimitedName of Successful Bidder:M/s Power GridCorporation of India LimitedIt is pertinent to mention that the successfulBidder mentioned above, does not belong toPromoter and Promoter group.
	6.	Whether the transaction would fall within relatedparty transactions? If yes, whether the same isdone at"arm's length".	The transaction does not fall within the purviewof related party transaction.	The transaction does not fall within the purviewof related party transaction.
	7.	whether the sale, lease or disposal of theundertaking is outside Scheme of Arrangement? Ifyes, details of the same including compliance withregulation 37A of LODR Regulations.	Not Applicable	Not Applicable
	8.	Whether the transaction is in the nature of SlumpSale.	The proposal for sale and transfer of BidarTransco Limited, to the successful bidder as perdetails given in Point no. 5 above is not in thenature of slump sale.Further, the consideration for sale & transfer ofSPV is determined in accordance with theGuidelines issued from time to time by theMinistryof Power,Government of India.	The proposal for sale and transfer of Khavda V-B1B2 Power Transmission Limited, to thesuccessful bidder as per details given in Point no.5 above is not in the nature of slump sale.Further, the consideration for sale & transfer ofSPV is determined in accordance with theGuidelines issued from time to time by theMinistryof Power,Government of India.
SPV is determined in accorGuidelines issued from timeMinistryof Power,Government**********			SPV is determined in accorGuidelines issued from timeMinistryof Power,Government

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