RattanIndia Enterprises to increase stake in Revolt to 100%

RattanIndia Enterprises Limited ("Company") has today, entered into an agreement ("Agreement") with Revolt Intellicorp Private Limited ("Revolt"), a private company under the Companies Act, 2013 having corporate identification number U34203HR2017PTC070517 and its promoter, Mr. Rahul Sharma to acquire 66.16% (sixty six point one six percent) of the equity share capital of Revolt, resulting in an increase in the Company's stake in Revolt from 33.84% (thirty three point eight four percent) to 100% (one hundred percent). 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.

For Financial Year 2021-22, the Turnover of Revolt was INR 160,16,53,000 (Indian Rupees One Hundred and Sixty Crores Sixteen Lakhs and Fifty Three Thousand only)

Source : Equity Bulls

Keywords

RattanIndiaEnterprises StakeAcquisition RevoltIntellicorp Subsidiary