Intimation of decrease in shareholding in wholly owned subsidiary pursuant to private placement further it resulted in change in holding company status
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Rithwik Facility Management Services had acquired 100% of Rithwik Indus Power Private Limited (RIPPL) on May 9, 2025, making it a wholly owned subsidiary. The company's shareholders declined to invest further in RIPPL and instead allowed RIPPL to raise capital through a private placement on November 10, 2025. As a result, the company's stake in RIPPL has dropped sharply from 100% to 27.78% (10,000 shares), and Rithwik Facility has ceased to be the holding company of RIPPL effective November 10, 2025. New investors R R Industries (69.44%), Rishabh Infopark (1.39%), and Hanudev Infopark (1.39%) now hold the majority.
Rithwik Facility loses holding company control and the ability to consolidate RIPPL's financials, which could affect future earnings visibility and strategic influence over the power subsidiary. Investors should note the change in subsidiary status and the dilution implications for the group's structure.