New Delhi: REC Limited has transferred its entire shareholding in Musalgaon Power Transmission Limited, a project-specific subsidiary, to Maharashtra State Electricity Transmission Company Limited (MSETCL), the successful bidder selected through a tariff-based competitive bidding process.
The transaction was completed through REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC.
REC Transfers 50,000 Equity Shares to MSETCL
According to a regulatory filing, RECPDCL transferred its entire holding of 50,000 equity shares in Musalgaon Power Transmission Limited to MSETCL on September 9, 2026.
The transfer also included all assets and liabilities of the project-specific subsidiary.
The transaction was completed after RECPDCL received the necessary consideration from the successful bidder.
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Transaction Consideration Includes Taxes and Expenses
The total consideration received by RECPDCL amounted to ₹1,20,89,930, including taxes.
The consideration included:
- Professional fees
- Reimbursement of expenses
- Applicable taxes
The transaction follows the selection of MSETCL as the successful bidder through a tariff-based competitive bidding process.
Musalgaon Power Transmission Ceases to Be REC Subsidiary
Following the completion of the share transfer, Musalgaon Power Transmission Limited ceased to be a subsidiary of both RECPDCL and REC with effect from September 9, 2026.
The transfer marks the completion of the divestment of REC’s entire shareholding in the project-specific transmission company.
About REC Limited
REC Limited is a public-sector infrastructure finance company under the Ministry of Power. It provides financing for power-sector projects, including generation, transmission and distribution, and supports the development of India’s power infrastructure.
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