Date: September 25, 2026
Board Meeting Outcomes
- The Board of Directors of RITES Limited, at its meeting held on September 25, 2026, approved the proposal to initiate the process for closure of RITES (Afrika) Proprietary Limited (RAPL)
- The meeting commenced at 09:15 AM and concluded at 10:10 AM
- The closure is subject to completion of applicable statutory, regulatory, legal, tax and other formalities and obtaining requisite approvals
Disinvestment / Strategic Actions
- RITES (Afrika) Proprietary Limited is a wholly-owned subsidiary of RITES Limited incorporated in Botswana
- The closure process is expected to be completed within six months after receipt of all requisite clearances/approvals
- Reasons for closure: Lack of relevant business opportunities in Botswana and establishment of RITES representative office in South Africa for effective presence in the region
Financial Impact
Subsidiary Financial Contribution (Last Financial Year):
- Turnover: ₹51,33,714.79 (0.02% of listed entity)
- Revenue: ₹58,76,920.97 (0.02% of listed entity)
- Net worth: ₹3,58,84,646.02 (0.13% of listed entity)
KMP / Board / Auditor Changes
Not Specified
Dividend Declaration or Non-Declaration
Not Specified
Financial Results (Standalone & Consolidated)
Not Specified
Other Operational / Legal / Strategic Disclosures
Not Specified