RattanIndia

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RattanIndia, formerly RattanIndia Infrastructure Ltd., is an Indian company that is involved in the energy sector. The traditional focus of the company was on coal on thermal power; however, the company has expanded its scope more recently, focusing more on emerging technologies and e-commerce.

Contents

The company supplies electricity to Maharashtra state and uses coal from South Coalfields Limited and Mahanadi Coalfields Limited. [1] RattanIndia has two thermal power plants: the first is the Nashik power plant that was reported stranded in 2020 due to no long-term purchase agreements and conflicts on land acquisition. [2] The other power plant is in Amravati that was commissioned in 2015. [3] Amravati power plant was in debt and Goldman Sachs Varde partners took over the Rs 4050 crores against 15 percent equity in 2019. [4] The company was also involved in solar energy but that component was sold to GIP for Rs 1067 crore in September 2020 and the company exited the solar business. [5] Rattan India was the outcome of the split of Indiabulls where the energy component was named as RattanIndia in 2014. [6] The company is listed on National Stock Exchange and Bombay Stock Exchange. [7] Brickwork Ratings provided the rating for the Bank Loan Facilities of aggregating to Rs.7617.99 Crs in October 2020. [8]

Acquisition of Revolt Motors

In October 2022, RattanIndia Enterprises Ltd announced that they would be acquiring the electric motorcycle company Revolt Motors for an undisclosed figure. [9] The takeover was completed in January 2023. [10]

Allegations of irregularity

There have been allegation on irregularities on RattanIndia by Lone Star Funds with which the company had formed a finance company. [11]

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References

  1. ↑ ltd, Research and Markets. "RattanIndia Power Ltd (RTNPOWER) - Financial and Strategic SWOT Analysis Review". www.researchandmarkets.com. Retrieved 10 December 2021.
  2. ↑ www.ETEnergyworld.com. "De-stressing power and banking sectors advances with international divestment of RattanIndia's Amravati coal plant - Opinion by Vibhuti Garg | ET EnergyWorld". ETEnergyworld.com. Retrieved 10 December 2021.
  3. ↑ "RattanIndia Power commissions 270 MW unit 4 at Amravati". The Economic Times. Retrieved 10 December 2021.
  4. ↑ "Table 34: Share of Debt Relief in DAC Members' Total Net ODA in 2004". doi:10.1787/036556625566 . Retrieved 10 December 2021.{{cite journal}}: Cite journal requires |journal= (help)
  5. ↑ Jai, Shreya (2 September 2020). "RattanIndia sells entire solar portfolio of 306 Mw to GIP for Rs 1,670 cr". Business Standard India. Retrieved 10 December 2021.
  6. ↑ Mukul, Jyoti (6 September 2014). "Rajiv Rattan takes control of Indiabulls Power". Business Standard India. Retrieved 10 December 2021.
  7. ↑ "RattanIndia Power Ltd. Share Price Today, Stock Price, Live BSE/NSE Prices and News for RattanIndia Power Ltd. | Bloomberg-Quint". www.bloombergquint.com. Retrieved 10 December 2021.
  8. ↑ "Brickwork Ratings for Rattan India" (PDF).
  9. ↑ Paramasivam, Praveen (7 October 2022). "RattanIndia to buy 100% stake in electric motorcycle maker Revolt Motors". Business Standard India. Retrieved 7 October 2022.
  10. ↑ "RattanIndia Enterprises acquires EV maker Revolt Motors". The Economic Times. 14 January 2023.
  11. ↑ Vyas, Maulik; Das, Saikat. "Lone Star subsidiary approaches NCLT alleging oppression and mismanagement in RattanIndia Finance". The Economic Times. Retrieved 2 November 2021.
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