REC Limited
ICICI Prudential Mutual Fund, which previously held a 2.01 percent stake in REC Limited, is no longer listed among its disclosed shareholders, indicating either a complete exit or a reduction in its holding to below the 1 percent reporting threshold.
A Central Public Sector Undertaking under India's Ministry of Power, REC Limited finances projects across the entire power sector value chain, including generation, transmission, and distribution infrastructure. The company provides financial support to state electricity boards, private developers, and renewable energy enterprises nationwide. REC operates as a dedicated infrastructure finance institution supporting India's power sector development and energy transition goals through long-term project financing.
India's second-largest AMC by AUM with over Rs 9 lakh crore managed across 80+ schemes. Joint venture between ICICI Bank and Prudential plc. CIO S. Naren is one of India's most recognised value investors, known for contrarian macro calls and rotating across market caps well ahead of consensus. ICICI Pru's quarterly portfolio disclosures are among the most closely watched in the industry.