Intimation under Regulation 30 of the SEBI(LODR) Regulations, 2015
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Rithwik Facility Management Services Ltd has completed the acquisition of an additional 24% equity stake in Rithwik Indus Power Private Limited on May 9, 2025, taking its total holding to 100% and making it a wholly-owned subsidiary. The acquisition cost was Rs. 24,000 in cash for 2,400 equity shares. Rithwik Indus Power is engaged in the power generation business, was incorporated in December 2012, and has not yet commenced operations. The transaction is classified as a related party deal since relatives of the promoter are directors and shareholders of the target company.
The move converts Rithwik Indus Power into a wholly-owned subsidiary, giving the company full control over its power generation arm, though financial impact is negligible given the tiny acquisition cost and the subsidiary's dormant status. Shareholders should note the related-party nature of the transaction.