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REC Ltd - 532955 - Board Approval For (I) Incorporation/Sale Of Subsidiaries And (Ii) Subscription Of 50% Equity Shareholding Not Exceeding ?50 Crore In M/S PFC Projects Limited.

 in pursuance of Regulation 30 read with Schedule III of SEBI (LODR), 2015, this is to inform that the Board of the Company in its meeting held on August 4, 2022 inter-alia also approved the following proposals:- 1. Incorporation of a project-specific special purpose vehicles, as wholly owned subsidiaries of REC Power Development & Consultancy Limited (RECPDCL). 2. Subscription of 50% equity shareholding not exceeding ?50 crore in M/s PFC Projects Limited, in the Power Asset Management Company as 50:50 Joint Venture Company with Power Finance Corporation Limited, for taking over Stressed/NPA assets in the Power Sector, subject to requisite approvals. 3. Sale and transfer of Neemuch Transmission Limited to M/s Power Grid Corporation of India Limited, the successful bidder selected through Tariff Based Competitive Bidding process.
05-08-2022
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REC net profit up 8% in Q1; plans to raise up to 75,000 cr

 Consolidated total income was almost flat on an annual basis at 9,506 crore
04-08-2022
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REC Ltd - 532955 - Board Meeting Outcome for Outcome Of Board Meeting - Submission Of Unaudited Financial Results (Standalone & Consolidated) For The Quarter Ended June 30, 2022 And Approval For Raising Of Funds Through Private Placement.

 Please find enclosed herewith the unaudited financial results (standalone & consolidated) of the Company for the quarter ended June 30, 2022 in the prescribed format which have been reviewed by the Audit Committee and approved & taken on record by the Board of Directors of the Company in their meetings held on August 4, 2022. Further, the Board of Directors of REC Limited in the said meeting also approved the proposal of raising of funds through issue of unsecured/ secured non-convertible bonds/ debentures through private placement, upto an amount of Rs. 75,000 crore, in one or more tranches, subject to approval of shareholders in this regard in the ensuing Annual General Meeting.
04-08-2022
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REC Ltd - 532955 - Update on board meeting

 REC Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 04/08/2022 ,inter alia, to consider and approve In furtherance of our earlier letter dated July 28, 2022 and in terms of Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that the Board of Directors of REC Limited, in its meeting scheduled to be held on Thursday, August 4, 2022 will also consider a proposal for fund-raising through private placement.
01-08-2022

Upcoming corporate actions: 1 bonus issue and 1 stock split to watch in August

 In the month of August, REC Limited and High Energy Batteries (India) are the two stocks that can be watched for corporate actions.
31-07-2022
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State Gencos approach REC for loans amounting to 3,700 crore to procure coal

 Delays from Discoms are leading to exhaustion of working capital which in turn affects Genco's ability to purchase coal
26-07-2022
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REC Ltd - 532955 - Board Meeting Intimation for Consideration Of Unaudited Financial Results (Standalone & Consolidated) Of The Company For Quarter Ended June 30, 2022.

 REC Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 04/08/2022 ,inter alia, to consider and approve unaudited financial results (standalone & consolidated) of the Company for quarter ended June 30, 2022. Further, the period of closure of trading window for trading in REC equity shares and listed debt securities (tax free bonds etc.) is from June 20, 2022 to August 6, 2022 and trading window will open with effect from August 7, 2022. During the above mentioned closure period, all designated persons and their immediate relatives have been advised not to deal in REC's equity shares / securities.
21-07-2022
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REC Ltd - 532955 - Announcement under Regulation 30 (LODR)-Change in Directorate

 In terms of Regulation 30 read with Schedule III of the SEBI (LODR) Regulations, 2015, it is informed that pursuant to Order No. 46/1/2022-RE (MOP) dated July 15, 2022 of Ministry of Power, Government of India, Shri Vijay Kumar Singh (DIN: 02772733), presently Executive Director (Technical), REC Limited has been appointed as Director (Technical) on the Board of REC Limited with effect from July 15, 2022 till the date of his superannuation i.e. June 30, 2025, or until further orders, whichever is earlier. Shri Vijay Kumar Singh is not inter-se related to any other Director of the Company. Further, as per declaration given by him, Shri Singh is not debarred from holding the office of Director by virtue of any SEBI Order or any other such authority. The brief profile of Shri Vijay Kumar Singh is as per letter attached.
15-07-2022
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REC Ltd - 532955 - Submission Of Requisite Documents For Claiming Exemption From TDS Or Deduction Of Tax At Lower Rates, On Dividend To Be Paid To Shareholders

 This is in furtherance to our earlier letters intimating about decisions of the Board of Directors for recommendation of final dividend @ ?4.80 per equity share of ?10/- each for the financial year 2021-22, subject to approval of shareholders in the ensuing AGM and fixation of Wednesday, July 13, 2022 as record date for this purpose. In this regard, it is pertinent to mention that as per provisions of Income tax Act, 1961, dividend income is taxable in the hands of shareholders and the Company is required to deduct tax at source (TDS) at the time of making payment of dividend, at the rates prescribed in the Income Tax Act, 1961. However, in case a shareholder wants that his/her tax should be deducted at lower rates or no tax should be deducted, then he/she should submit scanned copy of PAN, form 15G/15H & other requisite documents for the financial year 2022-23, unless already submitted, on or before July 31, 2022.
15-07-2022
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REC Ltd - 532955 - Announcement under Regulation 30 (LODR)-Newspaper Publication

 In pursuance of Regulations 30 of SEBI (LODR) Regulations, 2015, we are forwarding herewith copies of newspaper clippings relating to Notice of Postal Ballot & Remote e-voting information of the Company published in 'Business Standard' (English) and 'Business Standard' (Hindi) edition of the newspapers on Saturday, July 9, 2022.
11-07-2022
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