Rattanindia Power: family trusts now indirectly control promoter voting rights

Rattanindia Power Limited announced the indirect acquisition of voting rights by four family trusts—Rajiv Rattan Family Trust, Rajiv Rattan Family Trust 2, Anjali Nashier Family Trust, and Anjali Nashier Family Trust 2 (collectively, "Acquirers")—through an inter-se transfer within the promoter group. The transfer occurred on November 21, 2025.

This transaction involved the contribution of equity shares of Nettle Constructions Private Limited ("Nettle") and partnership interests in Arbutus Consultancy LLP ("Arbutus LLP") from Rajiv Rattan and Anjali Nashier to these trusts.

The off-market transfer has resulted in the Acquirers cumulatively holding 96% of Nettle's equity shares and 96% of Arbutus LLP's partnership interest. Consequently, the Acquirers have indirectly acquired the power to direct the exercise of voting rights over 44.06% of shares in Rattanindia Power.

While the control of these voting rights has shifted internally, the total shareholding of the 'promoter & promoter group' in Rattanindia Power remains unchanged. This internal rearrangement maintains the existing promoter shareholding at 2,36,61,03,603 shares, representing 44.06% of the company's total share capital.