RattanIndia Enterprises trades jubilantly on completing acquisition of Revolt Motors
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RattanIndia Enterprises is currently trading at Rs. 47.90, up by 5.35 points or 12.57% from its previous closing of Rs. 42.55 on the BSE.
The scrip opened at Rs. 44.10 and has touched a high and low of Rs. 49.10 and Rs. 44.10 respectively. So far 1172707 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 62.30 on 17-Jan-2022 and a 52 week low of Rs. 30.50 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 49.10 and Rs. 41.05 respectively. The current market cap of the company is Rs. 6545.05 crore.
The promoters holding in the company stood at 74.86%, while Institutions and Non-Institutions held 9.45% and 15.68% respectively.
RattanIndia Enterprises has completed acquisition of 100% shareholding in the electric motorcycles market leader Revolt Motors. Henceforth, Revolt Motors will be 100% wholly owned subsidiary of RattanIndia Enterprises.
Revolt Motors is the highest selling electric bike in the country with its manufacturing facility in Manesar, Haryana. Revolt Motors has expanded its footprint pan-India with 30 dealerships spread across the country. With this 100% acquisition of Revolt Motors, RattanIndia Enterprises seeks to significantly scale up Revolt’s growth and make it the largest EV two wheeler company in the country.
RattanIndia Enterprises is engaged in the business of Power generation, transmission and distribution of power and power advisory.
