RattanIndia Enterprises Ltd Share Price – NSE  / BSE

Miscellaneous, Small Cap

Neorise Technologies FZCO (Neorise) is a wholly owned subsidiary of RattanIndia Enterprises, incorporated in Dubai on 27 December, 2021. The primary business of Neorise includes management consultancies, project management services and investment in commercial enterprises and management.

The company will inject additional funds into Neorise, increasing its equity from AED 1 million to AED 5 million. The investment will be made in one or more tranches, including the conversion of an existing loan of AED 2 million previously granted to Neorise. The fund infusion is subject to compliance with applicable laws in both India and the UAE.

The exact price for the subscription of shares in Neorise will be decided at the time of subscription, based on the valuation of Neorise, subject to the applicable laws in India/U.A.E.

The primary reason of investment is to meet the fund requirement of Neorise at no cost. Neorise is in process to commence its business operation in general trading and e-commerce activities.

The company currently holds 100% of Neorise’s shares and the acquisition process is expected to take 2 to 3 months, pending any statutory approvals.

The proposed investment, by way of conversion of loan into shares, fall within related party transactions, as Neorise is a wholly owned subsidiary company and the necessary approval of the Audit committee of REL has been obtained. The proposed investment in Neorise is made at an arms’ length basis.

The official announcement was made on Saturday, 21 December 2024.

Rattanindia Enterprises is primarily engaged in the business of investing in technology-focused new-age businesses, including e-commerce, electric vehicles, fintech and drones, through its group companies.

The company reported a consolidated net loss of Rs 241.27 crore in Q2 FY25 as against a net profit of Rs 140.89 crore posted in Q2 FY24. Revenue from operations jumped 11.5% YoY to Rs 1,800.62 crore in the quarter ended 30 September 2024.

The scrip slipped 1.63% to Rs 65.60 on the BSE.

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The board of directors of RattanIndia Enterprises in its meeting held today has approved 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.

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Sequentially, the company’s vehicle sales surged by 109%, up from 952 units sold in October 2024.

This performance comes amidst a market environment where the electric two-wheeler (E2W) industry witnessed an average sales decline of 18-20% during the same period, as per the Government of India’s Vahan Portal data.

This surge in sales is largely attributed to the launch of the all-new RV1 and RV1+, affordable and commuter-friendly electric motorcycles tailored for the Indian market. The bikes has received overwhelming consumer interest, with robust pre-orders translating into strong sales figures. These models combine cutting-edge technology with affordability, offering riders a reliable and sustainable alternative to traditional ICE-powered vehicles.

Anjali Rattan, Chairperson of RattanIndia Enterprises, said, “Our performance this month reflects not just the strength of our products but the growing trust of our customers in the Revolt brand.”

“As we scale new heights, our focus remains steadfast on delivering innovative, reliable, and sustainable mobility solutions. With a clear vision for the future, we are committed to driving the electric mobility revolution in India and beyond.

Meanwhile, Revolt Motors officially commenced operations in Sri Lanka on 25 November 2024, marking its entry into the international market. The launch has seen an encouraging reception, with substantial pre-orders logged within the first week, reflecting the growing demand for sustainable mobility solutions in South Asia.

“Revolt plans to expand into more international markets in 2025, as part of its mission to establish itself as a global leader in the electric mobility space,” stated in an exchange filing.

Revolt Motors has significantly bolstered its presence across the country, operating through 154 dealerships nationwide. The network is set to grow further with 14 new dealerships launching by the end of December 2024, enhancing accessibility to Revolt's offerings across urban and semiurban markets.

Rattanindia Enterprises is primarily engaged in the business of investing in technology-focused new-age businesses, including e-commerce, electric vehicles, fintech and drones, through its group companies.

The company reported a consolidated net loss of Rs 241.27 crore in Q2 FY25 as against a net profit of Rs 140.89 crore posted in Q2 FY24. Revenue from operations jumped 11.5% YoY to Rs 1,800.62 crore in the quarter ended 30 September 2024.

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Revolt Motors has reported an impressive 197% year-on-year growth in vehicle sales and 109% month-on-month (MoM) increase with 1,994 units sold in November 2024, compared to 671 units in November 2023 and 952 units in October 2024. This performance comes amidst a market environment, where the electric two-wheeler (E2W) industry witnessed an average sales decline of 18-20% during the same period, as per Govt. of India's Vahan Portal data.

This surge in sales is largely attributed to the launch of the all-new RV1 and RV1+, affordable and commuter-friendly electric motorcycles tailored for the Indian market. The bikes have received overwhelming consumer interest, with robust pre-orders translating into strong sales figures. These models combine cutting-edge technology with affordability, offering riders a reliable and sustainable alternative to traditional ICE-powered vehicles.

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