REC Ltd.

NSE: RECLTD | BSE: 532955 | ISIN: INE020B01018 |Industry: Finance (including NBFCs)
|Mid-range Performer
100.35 -1.00 (-0.99%)
NSE Oct 23, 2020 15:31 PM
Volume: 4.4M

REC Ltd.    
15 Sep 2020
REC Ltd - 532955 - Announcement under Regulation 30 (LODR)-Joint Venture
BSE India
In compliance with the provisions of Regulation 30 read with Schedule III of SEBI (LODR) Regulations 2015, this is to inform that the Board of Directors of REC Limited, in its Meeting held on September 15, 2020, has inter-alia and subject to the requisite clarifications/approvals, accorded its approval for infusion of Rs. 150 crore as equity in a company, proposed to be promoted as Joint Venture alongwith three other Central Public Sector Enterprises (CPSEs) i.e. Power Finance Corporation Limited, Power Grid Corporation of India Limited and NTPC Limited, for the purpose of establishment/creation of Common Backend Infrastructure Facility (CBIF) for Smart Meters in the country.
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