REC transfers transmission arm to PowerGrid
State-run Rural Electrification Corp (REC) today said it has transferred the entire shareholding of its wholly-owned subsidiary to Power Grid Corporation of India following approval from the Power Ministry.
In a BSE filing, the company said, "It is further informed that as per approval of Ministry of Power the entire shareholding of REC Transmission Ltd (a wholly-owned subsidiary of REC) in WR-NR Power Transmission Ltd, comprising of 50,000 equity shares have been transferred along with all its assets and liabilities to Power Grid corporation of India Ltd..."
Shares of REC today ended 1.36 per cent up at Rs 127 a piece on BSE.
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First Published: Mar 27 2018 | 10:05 PM IST