REC LIMITED — Share Issue/Capital Change 2024

Aug 15, 2024

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Jyoti Shubhra Amitabh Digitally signed by Jyoti Shubhra Amitabh DN: c=IN, o=Personal, title=0573, pseudonym=133065811914836276Dm3B8269pXyOd3, 2.5.4.20=90de92ff366d85bfab279748dedfb1a88a5af19e87ea57b3f19ab9d20d92f4e8, postalCode=201301, st=Uttar Pradesh, serialNumber=159303584c6c1556d495ded817d8acafb7052d4bc2ffef2356115a0e92ae00ac, cn=Jyoti Shubhra Amitabh Date: 2024.08.15 13:35:51 +05'30'

Annexure -1

Incorporation of Wholly Owned Subsidiary named “Rajasthan IV 4B Power Transmission Limited”

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Sl. Particulars Details
No.
1. Name of the target entity, Name: Rajasthan IV 4B Power Transmission Limited
details in brief such as size, Authorized Capital: ₹5,00,000/-
turnover etc. Paid up Capital: ₹5,00,000/-
Turnover: Not Applicable (It is a newly incorporated
Company and is yet to commence its business).
Ministry of Power, vide gazette notification dated June
14, 2024 had allocated one transmission project, wherein
RECPDCL has been appointed to act as Bid Process
Coordinator (BPC) for the purpose of selection of Bidder
for Transmission system for evacuation of power from
Rajasthan REZ Ph-IV (Part-4: 3.5 GW): Part B
In view of the above, Rajasthan IV 4B Power
Transmission Limited has been incorporated on August
14, 2024. After selection of the successful bidder in
accordance with the TBCB guidelines, said company
would be transferred to the successful bidder along with
all assets & liabilities.
2. Whether the acquisition would Rajasthan IV 4B Power Transmission Limited is a
fall within related party Wholly Owned Subsidiary of REC Power Development
transaction(s) and whether the & Consultancy Limited (a Wholly Owned Subsidiary of
promoter/ promoter group/ REC Limited), therefore it is a related party of the REC
group companies have any Limited.
interest in the entity being
acquired? The Promoter, promoter group/ group companies do not
have any interest in Rajasthan IV 4B Power Transmission
If yes, nature of interest and Limited except to the extent of its shareholding.
details thereof and whether the
same is done at “arms length”
3. Industry to which the entity Power Sector.
being acquired belongs
4. Objects and effects of The Company has been incorporated for Transmission
acquisition (including but not system for evacuation of power from Rajasthan REZ Ph-
limited to, disclosure of IV (Part-4: 3.5 GW): Part B.
reasons for acquisition of target
entity, if its business is outside
the main line of business of the
listed entity)
5. Brief details of any Incorporated pursuant to gazette notification dated June
governmental or regulatory 14, 2024 issued by, Ministry of Power, wherein REC
approvals required for the Power Development and Consultancy Limited has been
acquisition nominated as Bid Process Coordinator.
6. Indicative time period for Not Applicable.
completion of the acquisition
7. Nature of consideration - 100% subscription to the equity share capital in cash.
whether cash consideration or
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	share swap and details of the same
8.	Cost of acquisition or the price at which the shares are acquired	100% subscription to the equity share at face value
9.	Percentage of shareholding / control acquired and / or number of shares acquired	100%
10.	Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief)	REC Power Development and Consultancy Limited (RECPDCL) inter-alia acts as the "Bid Process Coordinator" for selection of Transmission Service Provider through Tariff Based Competitive Bidding (TBCB) process, for independent inter-state and intra- state transmission project assigned by the Ministry of Power and State Governments from time to time.