Bhopal, India – September 21, 2026 — Dilip Buildcon Limited (BSE: 540047, NSE: DBL) has been declared the L-1 (lowest) bidder — one (1) — by REC Power Development and Consultancy Limited (RECPDCL) for the “Development and Operation of Intra State Transmission System for Transmission of Electricity Through Tariff Based Competitive Bidding for Establishment of 400 KV Gis Solapur/ Paranda Switching Station (Dist. Dharashiv),” Maharashtra. The company disclosed the development to the exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Details & Regulatory Compliance
| Particular | Detail |
|---|---|
| Awarding entity | REC Power Development and Consultancy Limited (RECPDCL), acting as Bid Process Coordinator (BPC), on behalf of Maharashtra State Transmission Utility |
| Nature of selection | Dilip Buildcon Limited selected as Successful Bidder to acquire 100% equity of the Project SPV and act as Transmission Service Provider (TSP) |
| Project | Development, ownership, operation and maintenance of the Intra-State Transmission System for establishment of 400 KV Gis Solapur/ Paranda Switching Station (Dist. Dharashiv), Maharashtra |
| Execution model | Build, Own, Operate and Transfer (BOOT) basis under Tariff Based Competitive Bidding (TBCB) route, governed by a Transmission Service Agreement (TSA) |
| Nature of contract | Development, financing, design, engineering, procurement, construction, testing, commissioning, operation and maintenance of transmission assets |
| Domestic/international | Domestic entity; domestic order |
| Concession period | 35 years from Commercial Operation Date (COD), following a Construction Period of 24 months |
| Execution timeline | Construction and commissioning to be completed within 24 months from the Effective Date, as per the RFP |
| EPC value for DBL (excl. GST) | Rs. 1,265 crore |
| Broad size/consideration | Project to be implemented under the Tariff Based Competitive Bidding (TBCB) model |
| Promoter/promoter group interest in awarding entity | No |
| Related-party transaction | No — the transaction does not fall under related-party transactions |
| Applicable regulation | Regulation 30 read with Para A of Part A of Schedule III of the SEBI (LODR) Regulations, 2015, read with SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023 |
| Trading window | Closed for insiders, designated persons and connected persons for 48 hours from the date the information is generally made available to the public |
| Signatory | Abhishek Shrivastava, Company Secretary |
The filing states the Company “has been selected as the successful bidder by REC Power Development and Consultancy Limited (RECPDCL)” for the project, to be “executed on Build, Own, Operate and Transfer (BOOT) basis under Tariff Based Competitive Bidding (TBCB) route.”
Market and Investor Implications
The disclosure adds a 35-year, BOOT-structure transmission asset to Dilip Buildcon’s order book, with an EPC component of Rs. 1,265 crore (excluding GST) attributable to the company. Because the award is structured under the TBCB route with a Transmission Service Agreement, revenue recognition and cash flows from the underlying SPV would typically follow the Construction Period (24 months) and the subsequent Commercial Operation Date, rather than accruing immediately. The filing confirms the transaction does not involve related-party dealings and that promoter or promoter-group companies have no interest in the awarding entity, addressing standard governance-related disclosure requirements for such awards. As an L-1 (successful bidder) declaration rather than a signed and fully executed final contract, the disclosure represents a procedural step in the TBCB award process; investors tracking definitive contract execution, financial closure, or SPV-level financing terms would need to watch for further exchange filings on those milestones. No information on total project cost, funding mix, or the identity of any other bidders is available in this filing.
Authoritative Sources
This article is based exclusively on the corporate announcement filed by Dilip Buildcon Limited with the stock exchanges on September 21, 2026, disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023. The filing does not carry a separate exchange reference/acknowledgement number in the document provided.
Useful Websites for Investors
- BSE Ltd.: https://www.bseindia.com/
- National Stock Exchange of India Ltd.: https://www.nseindia.com/
- Securities and Exchange Board of India: https://www.sebi.gov.in/
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