REC incorporates subsidiary to develop Munak transmission project in Haryana

REC Limited informed the stock exchanges that a new wholly owned subsidiary named Munak Power Transmission Limited has been incorporated to support an upcoming transmission project in Haryana.

The company stated that Munak Power Transmission Limited was incorporated on January 5, 2026, and the certificate of incorporation was received on January 7, 2026. The entity is a wholly owned subsidiary of REC Power Development and Consultancy Limited (RECPDCL), which is itself a wholly owned subsidiary of REC Limited.

Munak Power Transmission Limited has been set up with an authorised and paid-up capital of Rs 5,00,000. It has been created specifically to facilitate the development of a 400 kiloVolt (kV) substation at Munak, along with associated transmission lines. This infrastructure will support the evacuation of 800 MegaWatt (MW) of power from the DCRTPP in Yamunanagar, Haryana.

The incorporation follows a letter dated October 01, 2025, from Haryana Vidyut Prasaran Nigam Limited (HVPNL), appointing RECPDCL as the Bid Process Coordinator (BPC) for this intra-state transmission project. Once a successful bidder is selected through the Tariff Based Competitive Bidding (TBCB) route, the entire shareholding of Munak Power Transmission Limited, along with all assets and liabilities, will be transferred to the selected bidder.

REC Limited stated that the formation of the subsidiary is a related party transaction as it falls within its subsidiary structure. The promoter and promoter group have no interest in the new company beyond their indirect shareholding.

The disclosure has been made to BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE) in line with Regulation 30 of the Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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