REC transfers shares of MP Power Transmission Package-I Ltd to M/S Megha Engineering

New Delhi: State-owned REC Limited has transferred shares of MP Power Transmission Package I Limited, held by its wholly owned subsidiary, REC Power Development & Consultancy Limited (RECPDCL) to M/S Megha Engineering and Infrastructures Ltd on Saturday, stated the PSU in a regulatory filing.

The company also said that RECPDCL held 50,000 equity shares in MP Power and had transferred the shares to the successful bidder, M/S Megha Engineering and Infrastructures Limited on Saturday. "The successful bidder was selected through tariff based competitive bidding process for Development of Intra-State Transmission Work in M.P. through Tariff Based Competitive Bidding: PACKAGE – L," it added.

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