RattanIndia Enterprises Limited (REL) has acquired 1.02 lakh equity shares of RattanIndia Investment Manager Private Limited, representing 100 per cent of its paid up capital, stated REL in its filing to the exchange.
REL stated, after this acquisition, RattanIndia Investment Manager Private became a wholly owned subsidiary of REL. REL added further the company will do investment management business through the investee company.
This was all cash consideration, which has been completed as it did not need regulatory approval. REL purchased the shares for Rs 25,000.
RattanIndia Investment Manager Private Limited was incorporated on December 22, 2009 and has presence only in India. The turnover of the company for the last three years is Rs 10,000, Rs 10, 000 and Rs 25,000 for FY 2020-2021; FY 2019-2020; and FY 2018-2019 respectively.