REC announces cessation of project specific SPV / subsidiary
Capital MarketREC announced that the entire shareholding of REC Transmission Projects Company, a wholly owned subsidiary of REC, in Ajmer Phagi Transco, comprising of
50,000 equity shares, have been transferred along with all its assets and liabilities on 03 October 2019, to Power Grid Corporation of India, the successful bidder selected through Tariff Based Competitive Bidding Process for Construction of Ajmer (PG)-Phagi 765 kV
D/C line along with associated bays for Rajasthan SEZ.
Hence, with effect from the aforesaid date, the above Project Specific SPV is not subsidiary
of RECTPCL & REC.
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