India
· Delayed Price · Currency is INR REC Limited Company Description
REC Limited, together with its subsidiaries, engages in the provision of financing services for power generation, transmission, and distribution projects in India.
The company primarily offers long, medium, and short-terms loans; debt refinancing, equity financing, financing of equipment manufacturing for power sector and coal mines; policy for funding against regulatory assets, and revolving bill payment facility services; and provides letter of undertaking in lieu of bank guarantee, etc. It also acts as a nodal agency for the implementation of Pradhan Mantri Sahaj Bijli Har Ghar Yojana, Pradhan Mantri Surya Ghar Muft Bujli Yojana, Deen Dayal Upadhyaya Gram Jyoti Yojana, and National Electricity Fund.
In addition, the company acts as the bid process coordinator for selection of transmission service provider through tariff based competitive bidding process for independent inter-state and intra-state transmission projects; provides project implementation and consultancy services in power sector; and operates National Feeder Monitoring System, a cloud-based IT and analytical platform, designed to monitor the reliability and quality of power.
It serves central/state government power utilities, as well as private sector power utilities. The company was formerly known as Rural Electrification Corporation Limited and changed its name to REC Limited in October 2018.
REC Limited was incorporated in 1969 and is based in Gurugram, India. REC Limited operates as a subsidiary of Power Finance Corporation Limited.
| Country | India |
| Founded | 1969 |
| Industry | Credit Services |
| Sector | Financials |
| Employees | 512 |
| CEO | Vivek Dewangan |
Contact Details
Address: Plot No. I-4, Sector 29 Gurugram, Delhi 122001 India | |
| Phone | 91 12 4444 1300 |
| Website | recindia.nic.in |
Stock Details
| Ticker Symbol | RECLTD |
| Exchange | National Stock Exchange of India |
| Fiscal Year | April - March |
| Reporting Currency | INR |
| ISIN Number | INE020B01018 |
| SIC Code | 6159 |
Key Executives
| Name | Position |
|---|---|
| Vivek Kumar Dewangan I.A.S. | Chairman and MD |
| Vijay Kumar Singh | Director of Projects and Director |
| Harsh Baweja | Chief Financial Officer, Director of Finance and Executive Director |
| Jyoti Shubhra Amitabh | Nodal Officer, Executive Director of Law and Company Secretary |
| Hemant Kumar C.S. | Chief Compliance Officer |
| Arun Kumar Tyagi | Executive Director of Finance and Human Resources |
| Subhash Chandra Garg | Executive Director |
| Dinesh Garg ACS, M.Com | GM, Deputy Nodal Officer for Equity Shares and Company Secretary |