Key Quantitative Figures

  • Number of shares sold: 1,573 equity shares
  • Percentage holding: 13% of equity share capital of Elicius Energy Private Limited
  • Sale price per share: ₹38.49
  • Total consideration: ₹60,544.77
  • Financial contribution of the associate: Nil turnover/revenue/income and net worth contribution during last financial year

Parties Involved

  • Seller: RITES Limited
  • Buyer: Dr. Raghunathan Rengasamy (Promoter and Director of Elicius Energy Private Limited)
  • Valuation firm: M/s SPGM & Associates, Chartered Accountants (Firm Registration No. 332387E)

Transaction Details

  • The sale involves transfer of entire equity shareholding held by RITES in Elicius Energy Private Limited
  • Valuation conducted by independent chartered accountants
  • Share Transfer Deed to be executed between parties to give effect to the transfer
  • Transaction is not a related party transaction
  • Buyer does not belong to promoter/promoter group/group companies of RITES Limited

Impact and Consequences

  • Upon completion of share transfer, Elicius Energy Private Limited will cease to be an associate of RITES Limited
  • The transaction does not fall within related party transactions
  • Not a slump sale or part of any Scheme of Arrangement