RattanIndia Enterprises Limited has informed the Exchange that the Company made further investment by acquiring an additional equity stake in RattanIndia Power Limited (RPL) resulting RPL to become an associate company of the Company.
RTNINDIA · price
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RattanIndia Enterprises has acquired an additional 0.19% equity stake in RattanIndia Power Limited (RPL), a listed thermal power company, through a secondary purchase on NSE at prevailing market prices. The total cost of acquisition was Rs. 8.32 crore, taking the company's shareholding in RPL from 19.813% to 20.003%. This crosses the 20% threshold, making RPL an associate company of RattanIndia Enterprises under accounting standards. RPL, incorporated in 2007, reported turnover of around Rs. 3,231-3,364 crore over the last three fiscal years and is part of the same promoter group.
The acquisition strengthens RattanIndia Enterprises' promoter-level commitment to its power arm and gives it associate company status, enabling equity-method accounting. The stake increase is marginal and does not trigger any SEBI open offer obligation (which kicks in at 25%), so near-term stock impact is expected to be limited.