REC Ltd Company History

Central Institute of Rural Electrification set up in Hyderabad.Â

 1980Â

Deputed engineers to Algeria to train the Algeria's National Agency for Distribution of Electricity and Gas on rural electrification.Â

 1988Â

 Launch of Kutir Jyoti and Jal Dhara programmes for rural electrification.Â

 1990

Awarded the Indira Gandhi Memorial Award for Excellence in Public Sector Undertakings for the year 1989-1990.Â

 1992Â

 Declared a Public Financial Institution under section 4A of the Companies Act.Â

 1993Â

Entered into MOU with the MoP for the first time to achieve certain performance related targets.Â

 1994Â

Received rating of "excellent" and award by the GoI, for the first time, for fulfilling the targets pursuant to the MOU.

Registered as a NBFC under section 45(IA) of the RBI Act.

Received 'AAA' rating from CRISIL Limited in relation to our long term domestic borrowings.

Declared to be among the top ten Public Sector Enterprises by the GoI.

Capital Gains Tax Benefit under section 54 EC of the IT Act to bonds floated by our Company. Upgradatation from Schedule 'B' to Schedule 'A' Corporation.

Grant of Mini Ratna- I status.Â

 2003

Did not seek assistance from the budget for finances and became a fully self- reliant organisation.Â

 2005

Profit before tax, crossed Rs. 10,000 million. Paid Rs. 2,345 million as dividend to the GoI.

Appointed as the nodal agency for RGGVY.

Received rating of "excellent" for the year 2005-06 by the GoI for fulfilling the targets of the MOU.Â

 2007Â

Received rating of "excellent" for the year 2006-07 by the GoI for fulfilling the targets of the MOU.Â

 2008Â

 -The initial public offer of Rural Electrification Corporation (REC), a state-run power sector lender, got subscribed 4.67 times at 11:00 IST on last day of its issue today, 22 February 2008. The price band for the IPO is Rs 90 to Rs 105. The book building process, which opened on February 19, is scheduled to close on February 22. The issue would constitute about 18.18% of the fully diluted post-issue capital of REC. It is looking to raise about Rs 16.40 billion through sale of 156 million equity shares in a price band of Rs 90-105 in the IPO.

Rural Electrification Corporation Ltd has appointed the following two firms of Chartered Accountants as the Joint Statutory Auditors of the Company for the Financial Year 2009-10:

1. Bansal & Co., New Delhi

2. K G Somani & Co., New Delhi

In order to fund a power project in North Chennai, Rural Electrification Corporation Ltd. (REC) has inked a Memorandum of Understanding (MoU) with NTPC Tamil Nadu Energy Company Ltd. (NTECL)

Rural Electrification Corporation Ltd has declared and approved an Interim Dividend at the rate of Rs.3.50 per share on the face value of fully paid-up equity shares of Rs.10/- each for the financial year 2010-11.

Rs 1300 crore bids invited for laying transmission system in Andhra pradesh

Rural Electrification Corporation has sought the approval of Reserve Bank of India (RBI) for issuing bonds to raise up to USD 500 million

Rural Electrification Corporation Ltd has appointed Shri Jyoti Shubhra Amitabh as a Company Secretary with effect from September 03, 2012 Shri Jyoti Shubhra Amitabh is holding 121 equity shares in the Company as on September 03, 2012.Â

 2013

Board recommends Final Dividend of Rs. 1.50/- per share

REC awarded India Pride Award 2013-14

 2014

Board recommends Final Dividend of Rs. 1.75/- per share.

REC awarded Dalal Street - PSU Award 2014

REC awarded India Today - PSUs Awards 2014 for Best HR Practices

REC Signs MoU with Ministry of Power for the Financial Year 2014-15

 2015Â

Rural Electrification Corp has has signed two separate agreements with Andhra Pradesh Power Generation Corporation Limited and Transmission Corporation of Andhra Pradesh Limited

Rural Electrification Corporation Ltd - Incorporation of three Project Specific Special Purpose Vehicles (SPVs), as Subsidiary Companies of Rural Electrification Corporation LimitedÂ

 2016Â

Rural Electrification Corporation Ltd has approved the Bonus Equity Shares in the ratio of 1:1 (i.e. One Bonus equity share of Rs. 10/- each for every equity share of Rs. 10/- each) to the existing shareholders of the Company

REC contributes Rs 25 crore towards "Swachh Bharat Kosh"Â

 2017Â

REC wins the Dainik Bhaskar India Pride Award 2017.

REC gets nod to incorporate five project specific SPVS as WOS

SAUBHAGYA Launched in Madhya Pradesh

REC honored with two Awards at SCOPE Awards on the 8th Public Sector Day Function.

REC Stall Inaugurated at Intelect 2017

REC Limited received the first prize for Brand Building through Inclusive Growth Initiatives” at the Corporate Communication Excellence Awards 2017 organised by the SCOPE.Â

 2018Â

 -REC launches USD 300 mln dollar-dominated bonds

Name of the company will be changed from ''Rural Electrification Corporation Limited'' to ''REC Limited''Â

 2021Â

 -This is to inform that Ministry of Corporate Affairs (MCA) vide order dated February 5, 2021 has approved the Scheme of Amalgamation of REC Transmission Projects Company Limited ('Transferor Company') with REC Power Distribution Company Limited ('Transferee Company'), wholly owned subsidiaries of RECÂ

 2022

REC has issued Bonus Shares in the Ratio of 1:3.