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Awaiting price reaction for this filing.
The Board of Directors of Rithwik Facility Management Services Ltd, at their meeting held on April 25, 2025, approved a further investment to acquire an additional 24% equity stake (2,400 shares) in Rithwik Indus Power Private Limited. The company already holds 76% (7,600 shares) in this entity, and this additional investment will take its total holding to 100%. Post-acquisition, Rithwik Indus Power Private Limited will become a wholly-owned subsidiary of the company. The board meeting lasted from 2:45 PM to 4:00 PM.
This is a routine internal restructuring move that converts the subsidiary into a wholly-owned entity, giving the company full control over Rithwik Indus Power Private Limited's operations and profits. Minor impact expected on the stock price as it involves a small private subsidiary.