RattanIndia Enterprises incorporating foreign subsidiary

Rattanindia Enterprises Ltd ("Rattanindia') has decided to expand its footprint internationally. Rattanindia will explore strategic partnerships with companies having cutting-edge technologies which couldbe brought to India's vast market or could leverage India's cost advantage in manufacturing or outsourcing. Rattanindia will also look at investing in technology companies having potential of high growth. By doing this, Rattanindia has expanded its canvas to intemational markets thereby ensuring that suitable opportunities outside India are not missed out. In order to put this to effect, Rattanindia has decided to incorporate a wholly owned subsidiary overseas.

Anjali Rattan, Business Chairman of Rattanindia Enterprises Ltd said, "Expanding our footprint internationally is a very important and positive step in the joumey of our company. We will access the best technologies and explore bringing them to India's vast market and in the process reduce the costs. India offers huge domestic market with excellent manufacturing prowess and unparalleled expertise in services outsourcing and we will leverage all this in forging strategic partnerships with companies having cutting-edge technologies."

Rattanindia Enterprises Ltd is the flagship company of Rattanindia group and as has been announced earlier, all new businesses will be housed in Rattanindia Enterprises. Rattanindia Enterprises is focused on new-age businesses which help solve problems and contribute massively to our great country. Rattan india has demonstrated this intent by making its first move in this direction by investing in Electric vehicle company Revolt, which is a leading electric bike company of the country. By investing in Revolt, Rattanindia will contribute towards reducing the pollution in our cities and also help the cause of energy security of our country by using locally produced electricity and in the process reducing the dependence on imported crude. Further, Rattanindia has shown its positive bias for technology-based businesses since Revolt is an Al enabled bike and heavy on technology. Revolt is the only EV bike company having thousands of vehicles on the road which have covered more than 2.5 crore kilometres cumulatively.

Rattanindia will continue to look at opportunities which help bring efficiency to a particular sector in the country with the help of technology and has now expanded its reach to international markets in this pursuit.

Shares of RattanIndia Enterprises Limited was last trading in BSE at Rs.48.75 as compared to the previous close of Rs. 51.3. The total number of shares traded during the day was 1152517 in over 4849 trades.

The stock hit an intraday high of Rs. 53.85 and intraday low of 48.75. The net turnover during the day was Rs. 60282979.

Source : Equity Bulls

Keywords