Multitude Growth Funds boosts stake in RIR Power Electronics

Multitude Growth Funds Limited has increased its shareholding in RIR Power Electronics Limited to 7.55% of the total diluted share/voting capital. This follows the conversion of 283,515 warrants into 2,835,150 equity shares (after accounting for a bonus issue and stock split), which were allotted on September 12, 2025.

Prior to this acquisition, Multitude Growth Funds held 3,174,850 shares, representing 4.14% of the total share/voting capital and 3.99% of the total diluted share/voting capital of RIR Power Electronics. The acquisition was conducted via a preferential allotment, increasing their total holding to 6,010,000 shares. The equity share capital of RIR Power Electronics after the transaction is INR 7,95,72,400, up from INR 7,67,37,250 before the transaction, with each share having a face value of INR 2.

Multitude Growth Funds confirmed that it is not a willful defaulter or a fraudulent borrower and has not traded RIR Power Electronics' shares between February 9, 2024, and the allotment date. RIR Power Electronics formally informed the Bombay Stock Exchange (BSE) about this disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.