RattanIndia Enterprises shines on inking pact to acquire 66.16% stake in Revolt Intellicorp

RattanIndia Enterprises is currently trading at Rs. 54.35, up by 4.55 points or 9.14% from its previous closing of Rs. 49.80 on the BSE.

RattanIndia Enterprises
RattanIndia Enterprises

The scrip opened at Rs. 51.35 and has touched a high and low of Rs. 55.20 and Rs. 50.50 respectively. So far 1038999 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 65.85 on 12-Jan-2022 and a 52 week low of Rs. 30.50 on 12-May-2022.

Last one week high and low of the scrip stood at Rs. 55.20 and Rs. 46.60 respectively. The current market cap of the company is Rs. 7581.75 crore.

The promoters holding in the company stood at 74.80%, while Institutions and Non-Institutions held 9.43% and 15.76% respectively.

RattanIndia Enterprises has entered into an agreement with Revolt Intellicorp (Revolt) and its promoter, Rahul Sharma to acquire 66.16% of the equity share capital of Revolt, resulting in an increase in the company’s stake in Revolt from 33.84% to 100%. Consequent to this acquisition, Revolt shall become a wholly owned subsidiary of the Company.

Revolt is a next-gen mobility company manufacturing artificial intelligence enabled electric vehicles.

RattanIndia Enterprises is engaged in the business of Power generation, transmission and distribution of power and power advisory.

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