Announcement under Regulation 30 (LODR) - Updates on Acquisition
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Rithwik Facility Management Services Limited has acquired a 76% equity share capital stake in Rithwik Indus Power Private Limited on April 16, 2025. The company informed the stock exchange about this acquisition under Regulation 30 of the SEBI LODR Regulations. This is a continuation of a board meeting outcome dated February 24, 2025, where the acquisition was first approved. The acquisition gives Rithwik Facility Management Services a controlling majority stake in the target company.
For shareholders, this means Rithwik Facility Management Services has expanded its business portfolio by gaining majority control (76%) in a new entity. The exact financial impact on the stock price will depend on the deal value, the synergy with existing operations, and the target company's business performance going forward.