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RattanIndia Enterprises gets nod to increase investment in Neorise

23 Dec 2024 Evaluate

RattanIndia Enterprises has received approval to increase the investment of the company in Neorise Technologies Fzco (Neorise), UAE, a wholly-owned subsidiary company of the company, in equity from AED 1 million to AED 5 million, in one or more tranches, by way of subscribing new shares, including conversion of the loan of AED 2 million, earlier granted by the company to Neorise, subject to the compliance of the applicable laws. 

Post acquisition of the shares by the company, Neorise will remain the wholly owned subsidiary company of the company. Objects of acquisition is to meet the fund requirement of Neorise at no cost. Neorise is in process to commence its business operation in general trading and ecommerce activities. The Board of Directors of the company in its meeting held on December 21, 2024 have, inter-alia, considered and approved the same. 

RattanIndia Enterprises focuses on innovative technologies that have the potential to transform the lives of over a billion Indians. Key businesses include electric mobility (Revolt Motors), e-commerce (Cocoblu Retail), fashion brands (Neobrands), fintech (WeFin), and drones (Neosky).


RattanIndia Ent Share Price

34.83 0.09 (0.26%)
17-Apr-2026 16:59 View Price Chart
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