RITES (RITES) — Board Meeting

📢 Key Event
RITES to sell entire stake in Elicius Energy

🔄 What Changed
13% associate stake sold for ₹60,544.77

🔮 What's Next
Completion by September 30, 2026

💡 Investor Takeaway
This divestment removes a non-core associate, simplifying RITES's portfolio but eliminating a minor revenue source.

RITES Limited announced the sale of its entire 13% stake in Elicius Energy Private Limited to promoter Dr. Raghunathan Rengasamy for ₹60,544.77 (₹38.49 per share), with transfer completion expected by September 30, 2026, after which Elicius will cease to be an associate.

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About RITES Limited (RITES)

Services · Miscellaneous · Listed on NSE

Market Cap: ₹10,491.58 Cr P/E: 25.2 ROE: 17.5% ROCE: 23.5% Div Yield: 4.51%

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🔥 Also filed on 19 August 2026

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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