Rites Merger & Restructuring
RITES Limited's board has approved the closure of its Botswana-based wholly-owned subsidiary, RITES (Afrika) Proprietary Limited. The closure process is expected to complete within six months.
- Execution
- Within six months
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RITES Limited's board has approved the closure of its Botswana-based wholly-owned subsidiary, RITES (Afrika) Proprietary Limited. The closure process is expected to complete within six months.
RITES Limited is divesting its entire 13% stake in Elicius Energy Private Limited for Rs 0.0006 Crore. The transaction is at arm's length.
RITES Limited has approved the sale of its entire 13% equity stake in its associate company, Elicius Energy Private Limited, for a total consideration of ₹60,544.77.
RITES Ltd has announced the liquidation of its joint venture company, MMG - Metro Management Group Limited. The JV involved RITES, DMRC, and the Israeli firm Poran Shrem Engineering and Appraisal Limited. This closure follows an initial intimation dated December 27, 2024, and marks the formal dissolution of the entity.